ACV Auctions Inc.

ACV Auctions Inc. (ACVA) priced its initial public offering on Mar 24, 2021 at $25.00 per share, above its $20.00–$22.00 range, raising $413.8M, and listed on Nasdaq. At the IPO price its market capitalization was about $3.85B. Goldman Sachs was lead-left underwriter, joined by J.P. Morgan, Citigroup and BofA Securities and others. Cooley advised the company and Davis Polk advised the underwriters.

ACV Auctions Inc. runs a digital marketplace for wholesale vehicle transactions, with data services providing vehicle information. Dealers and commercial partners use it to buy, sell and value vehicles, and it has facilitated over 750,000 transactions among more than 21,000 dealers and partners.

Status

IPO

Ticker

ACVA

Exchange

Nasdaq

Priced

Mar 24, 2021

IPO price

$25.00

Price range

$20.00–$22.00

Raised

$413.8M

Market cap at IPO price

$3.85B

First filed

Feb 26, 2021

Underwriters

Goldman Sachs, J.P. Morgan, Citigroup, BofA Securities, Jefferies, Canaccord Genuity, Guggenheim, Citizens JMP, Piper Sandler and Raymond James

Company counsel

Cooley

Underwriters' counsel

Davis Polk

Sector

Business services

Country / state

NY

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.