TrueCar Announces Proposed Follow-on Offering

SANTA MONICA, Calif., Nov. 5, 2014 (GLOBE NEWSWIRE) -- TrueCar (Nasdaq: TRUE), the negotiation-free car buying and selling platform, announced plans to commence a roadshow to market its common stock in advance of its proposed follow-on offering.

TrueCar expects to offer 1,000,000 shares of common stock in the offering as well as any shares to be sold to the underwriters pursuant to their option to purchase additional shares. Certain existing stockholders of the company are expected to offer 5,402,601 shares in the offering.

J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as lead book-running managers for the offering, and Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are acting as book-running managers for the offering. JMP Securities LLC and Cowen and Company, LLC are acting as co-managers.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (866) 803-9204; or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: (201) 793-5170, or by emailing [email protected].

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

CONTACT: INVESTOR CONTACT:
         Alison Sternberg
         Vice President, Investor Relations and Administration
         O: 800.200.2000 x 8771
         [email protected]

         Laura Bainbridge
         Addo Communications
         O: 310.829.5400
         [email protected]

         MEDIA CONTACT:
         Alan Ohnsman
         Senior Vice President & Chief Communications Officer
         [email protected]
         O: 800.200.2000 x 8044

You May Also Be Interested In