Kar Auction Services prices 15M share secondary offering

|By:, SA News Editor

KAR Auction Services prices its 15M share secondary offering at $25 per share, nearly in-line with today's closing price.

The selling stockholder, KAR Holdings II, LLC, is the sole seller, KAR won't receive any proceeds from the offering.

Credit Suisse, Goldman, Sachs and JPMorgan are acting as joint book-running managers.

Shares +0.6% AH.