Automotive Fleet
MenuMENU
SearchSEARCH

ADESA, Inc., Announces Initial Public Offering, $125 Million Senior Subordinated Note Offering

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.

by Staff
June 17, 2004
1 min to read


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.

More Remarketing

Blue bar graphs showing wholesale used vehicle price shifts according to vehicle segment.
Remarketingby News/Media ReleaseMay 11, 2026

Wholesale Used Vehicle Prices Slightly Up In April

The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.

Read More →
James McKinley stands on the stage during the 2026 CAR Conference and speaks about his acceptance of the Value Champion of the Year Award.
Remarketingby Chris BrownMay 8, 2026

CAR2026: James McKinley Wins Value Champion of the Year

James McKinley of City Rent a Truck was named the inaugural Fleet Value Champion at the CAR Conference for his data-driven approach to fleet lifecycle management and vehicle remarketing.

Read More →
Eric Autenrieth accepts the Fleet Remarketer of the Year award on a stage at the CAR Conference in Cleveland, OH.
Remarketingby StaffMay 8, 2026

CAR2026: Eric Autenrieth Wins Remarketer of the Year

Eric Autenrieth was recognized at this year's CAR Conference as the Remarketer of the Year.

Read More →
Ad Loading...
Lawrence Knapp stands on stage as he hives his acceptance speech for the cosigner of the year award.
Remarketingby StaffMay 7, 2026

CAR2026: Lawrence Knapp Wins Consignor of the Year

Lawrence Knapp won the Cosigner of the Year award at this year's CAR Conference.

Read More →
Image of three award winners at 2026 CAR
Remarketingby Faith HowellMay 6, 2026

2026 CAR Awards Celebrate Industry Excellence

CAR’s annual Fleet Remarketing Awards opened a reimagined 2026 conference designed to bridge the worlds of fleet management and automotive remarketing.

Read More →
Chris Brown standing on stage at The Conference of Automotive Remarketing announcing this year's award winners.
Remarketingby StaffMay 5, 2026

Inside the CAR2026 Awards: Leaders, Legacy & What’s Next

Here's a look inside the awards ceremony at the CAR Conference, where industry leaders reflected on the growth, impact, and future of automotive remarketing.

Read More →
Ad Loading...
A manual, traditional logistics dispatch center versus a futuristic AI-driven illustrative diagram of a future logistics operation.
RemarketingMay 1, 2026

The Predictive Pivot: How AI and Data Are Redefining Auto Logistics in 2026

AI is no longer a luxury but the baseline for profitability in 2026. Auto haulers that adopt these tools now will quickly outpace those that use manual workflows or take a wait-and-see approach.

Read More →
collage of conference speakers
Remarketingby Chris BrownApril 30, 2026

CAR 2026 Recap Part 2: Closing the Gap Between Data & Remarketing Value

The second half of CAR 2026 examined how fleets can translate lifecycle strategy, vehicle data, and market shifts into higher real-world results.

Read More →
Collage of CAR speakers
Remarketingby Chris BrownApril 27, 2026

CAR2026 in Two Words: Velocity, Value (Part 1)

The 2026 Conference of Automotive Remarketing convened with a mandate to involve a new constituency — fleet managers — and an updated mission to demonstrate unrealized value in de-fleeted vehicles.

Read More →
Ad Loading...
Johan Verbois, executive director of CARA, stands outdoors in a blue blazer with arms crossed, with blurred vehicles and greenery in the background.
Remarketingby News/Media ReleaseApril 27, 2026

CARA Appoints Johan Verbois as Executive Director

CARA recently opened up a part-time executive director position and appointed Johan Verbois for the role.

Read More →