ACV Announces Closing of Initial Public Offering

BUFFALO, N.Y., March 26, 2021 (GLOBE NEWSWIRE) -- ACV Auctions Inc. (“ACV”), the leading online automotive marketplace for dealers, today announced the closing of its initial public offering of 19,032,500 shares of its Class A common stock at a price of $25.00 per share, including the full exercise by the underwriters of their option to purchase up to an additional 2,482,500 shares of Class A common stock from the selling stockholders named in the prospectus. ACV sold 16,550,000 shares in the offering. ACV’s Class A common stock is listed on the Nasdaq Global Select Market under the symbol “ACVA.” ACV did not receive any proceeds from the sale of shares by the selling stockholders.

Goldman Sachs & Co. LLC, J.P. Morgan and Citigroup acted as lead book-running managers and representatives of the underwriters for the offering. BofA Securities and Jefferies acted as book-running managers for the offering, and Canaccord Genuity, Guggenheim Securities, JMP Securities, Piper Sandler and Raymond James acted as co-managers for the offering.

A registration statement relating to this offering has been filed with the Securities and Exchange Commission and was declared effective on March 23, 2021. The offering was made only by means of a prospectus forming part of the effective registration statement relating to the offering. Copies of the final prospectus may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, by facsimile at 212-902-9316 or by email at [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by collect telephone at 1-212-834-4533 or by email at [email protected]; or Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at 1-800-831-9146.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

Media Contact:

Maura DugganACV AuctionsDirector, PR, Social and Communications[email protected]716-359-0706

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