ADESA, Inc. has announced its initial public offering of 6,250,000 shares of common stock at a price of $24 per share, all offered by the company. ADESA's common stock will begin trading on the New York Stock Exchange under the symbol "KAR." ADESA also announced that it plans to issue $125 million on 7.625 percent senior subordinated notes due 2012. Both offerings are expected to close June 21. UBS Investment Bank and Merrill Lynch & Co. served as the lead managers on both offerings. The underwriters may purchase up to 937,500 shares of common stock solely to cover over-allotments. Net proceeds to the company, together with proceeds from ADESA's initial public offering of 6,250,000 common shares and a new $525 million credit facility, will be used to repay outstanding debt and to fund general corporate purposes.