Copart Announces Extension of Tender Offer to Acquire ACV
Key Highlights
- ➤Tender offer extended to October 15, 2026, pending HSR waiting-period expiration
- ➤Copart offers $10.50 cash per ACV share under merger agreement
- ➤90,199,271 shares tendered, representing approximately 52.84% of ACV outstanding
- ➤Tendered shares exceed the required majority minimum condition by approximately 2.84 percentage points
Copart, Inc. (Nasdaq: CPRT) ("Copart") today announced that its wholly owned subsidiary Apple Merger Sub, Inc. ("Purchaser") has further extended the expiration date of its all-cash tender offer to purchase all of the issued and outstanding shares of common stock, par value $0.001 per share (the "Shares"), of ACV Auctions Inc. (NYSE: ACVA) ("ACV"), at a price of $10.50 per Share, net to the seller in cash, without interest, subject to any applicable withholding taxes.
The tender offer, which was previously extended and scheduled to expire at 5:00 p.m., Eastern Time, on October 7, 2026, has been further extended and will now expire at 5:00 p.m., Eastern Time, on October 15, 2026, unless further extended or earlier terminated. The extension is intended to allow additional time for the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), which is scheduled to expire at 11:59 p.m., Eastern Time, on October 13, 2026, but may be terminated earlier if the applicable agencies exercise their discretion to grant early termination.
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