OPENLANE to repurchase 53% of Series A preferred stock for $559M

5 hours ago 1

OPENLANE (NYSE:KAR) has entered into definitive agreements to repurchase 53% of its Series A convertible preferred stock, originally issued in June 2020.
The cash consideration totals ~$559M, with shares repurchased at $29.70/common share equivalent, factoring in future dividend value.
The