Carvana Co. $460 Million Common Stock Offering

Davis Polk advised the joint book-running managers in connection with the $460 million public offering of 5,000,000 shares of Class A common stock of Carvana Co. The Class A common stock is listed on the New York Stock Exchange under the symbol “CVNA.”

Based in Tempe, Arizona, Carvana Co. is an e-commerce platform for buying used cars that operates in markets across the country. Carvana Co. provides a platform where consumers can research and identify a vehicle, inspect it, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up.

The Davis Polk capital markets team included partner Alan F. Denenberg, counsel Jeffrey Gould and associates Ali DeGolia and Sherry Tan. The tax team included partner Mario J. Verdolini and associate Bradford Sherman. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate Jennifer Leather. Associate J. Taylor Arabian provided 1940 Act advice. Members of the Davis Polk team are based in the Northern California and New York offices.