SANTA MONICA, Calif. — Last week, TrueCar announced the pricing of its initial public offering of 7,775,000 shares of its common stock at a price to the public of $9 per share.
The shares began trading on the NASDAQ Global Select Market on May 16 under the symbol "TRUE." In addition, TrueCar granted the underwriters a 30-day option to purchase up to 1,166,250 additional shares of common stock from TrueCar at the initial public offering price. The offering is expected to close on May 21, 2014, subject to customary closing conditions.
Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. RBC Capital Markets LLC is also acting as a book-running manager. Cowen and Company LLC and JMP Securities LLC are acting as co-managers.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission.