Carvana’s $1.25 Billion Shares Offering

Kirkland & Ellis advised Caravan, while Davis Polk advised the representatives of the several underwriters in the offering.

Carvana, Co. executed its offering of 15,625,000 shares of common stock for total gross proceeds of $1.25 billion. The shares are listed on the New York Stock Exchange under the symbol “CVNA.”

Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as representatives of the several Underwriters for the offering.

Based in Tempe, Arizona, Carvana Co. is a leading e-commerce platform for buying and selling used cars.

The Davis Polk corporate team included partner Alan F. Denenberg (Picture), counsel Jeffrey Gould and associates Jonathan Bye and Travis B. Mitchell. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associates Yana Kipnis and S. Dream Montgomery. The tax team included partner Mario J. Verdolini and associate Bradford Sherman.

Involved fees earner: Frank Azzopardi – Davis Polk & Wardwell; Jonathan Bye – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Jeffrey Gould – Davis Polk & Wardwell; Yana Kipnis – Davis Polk & Wardwell; Travis Mitchell – Davis Polk & Wardwell; S. Dream Montgomery – Davis Polk & Wardwell; Bradford Sherman – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Citigroup Global Markets Ltd; J.P. Morgan Securities LLC;