OPENLANE to repurchase 53% of Series A preferred stock for about $559 million
OPENLANE agreed on September 9, 2025 to buy back 288,322 Series A Convertible Preferred shares from Apax for $482,431,500 and 45,706 shares from Periphas for $76,477,055, with the press release putting total cash consideration at about $559 million. The repurchases are conditioned on customary closing conditions and are expected to close after September 30, 2025 and before October 20, 2025, which would reduce the preferred stock outstanding for common shareholders.
Key points
- Apax repurchase: 288,322 Series A preferred shares for $482,431,500
- Periphas repurchase: 45,706 Series A preferred shares for $76,477,055
- Press release says the repurchases cover 53% of the Series A preferred, at $29.70 per share of common stock on an as-converted basis
- Expected closing: after September 30, 2025 and before October 20, 2025
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 09, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.