TrueCar Inc (NASDAQ:TRUE) has taken a step forward to make public the pricing of its public offering amounting to about 9,000,000 shares of its common stock where it has decided to sell the shares at $16.50 for each share. According a number of sources pretty close to the provider, the new move is a well-calculated one and will help the company make tremendous steps forward in terms of business success and expansions.
The provider has been operational for many years, something that has given it an edge over its competitors and eventually moving it to the top to become an industry leader. The new move has grasped the attention of both its small and big investors with most of them hoping that they are making the best move forward. However, this is something that we just have to leave to time in order to find out.
The top provider according to sources expects to sell about 1,000,000 shares of common stock in the offering and still on the same note it is important to outline the fact that a section of the providers stockholders have at the same settled on the move to sell about 8,000,000 shares in the offering.
One thing that has as a matter of fact raised many eyebrows is the latest decision by the high notch company and the selling stockholders to move ahead and as a matter of fact grant the underwriters a 30-day option according to the company’s insiders to have completed the purchase of about 1,350,000 additional shares at the public offering price, less commissions and the underwriting discounts. The other thing that a lot of [people might of course be left questioning is the fact that True car will not be obtaining nay proceeds in relation to the sale of these shares.
While addressing a press conference, one of the provider’s top executives showed his excitement following the steps the company had made over the years towards the provision of the elaborate pricing transparency. At the moment, the different consumers of its high end products are free to move ahead and directly engage with the TrueCar Certified Dealers who remain much dedicated to delivering a superior purchase experience.