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Kar Auction Services prices 15M share secondary offering

  • 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.
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