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Carvana launches debt, equity offer

Claudia Assis

Carvana Co. said late Monday it launched an offering of shares and debt for general corporate purposes. The used-car buying online company is looking to sell 3.5 million shares plus rights for the underwriters to buy additional shares. Wells Fargo Securities and Citigroup are among the underwriters. Carvana is also offering $250 million of additional 8.875% senior notes due 2023 in a private offering, the company said. Shares of Carvana fell more than 4% in the extended session after ending the regular session down 1.4%.