OPENLANE to Repurchase 53% of Series A Convertible Preferred Stock
1. KAR to repurchase 53% of its Series A Preferred Stock. 2. Transaction estimated at approximately $559 million. 3. Repurchase reduces Apax's shares by 50% and Periphas's by 80%. 4. CEO claims transformation has created significant value for investors. 5. Repurchase transactions expected to close by October 2025.