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OPENLANE Closes Repurchase Of 53% Of Its Series A Convertible Preferred Shares, Amends Current Credit Agreement With Further $550M In Secured Term Loans

Author: Benzinga Newsdesk | October 08, 2025 03:19pm

CARMEL, Ind., Oct. 8, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, today announced it has closed its repurchase of 53% of the Company's Series A Convertible Preferred Stock and amended its existing Credit Agreement with an additional $550 million in secured term loans to finance the repurchases.


 

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