Friday, May 16, 2014
TrueCar Prices IPO
Santa Monica-based TrueCar has priced its IPO, saying last night that it will sell 7.8 million shares of its stock at $9 per share. The pricing was below the company's earlier, estimated IPO range of $12.00 to $14.00 per share. The company raised around $71.1M in the IPO offering. TrueCar is trading on the NASDAQ Global Select Market as TRUE. TrueCar is venture backed by backed by USAA, Capricorn Investment Group, Upfront Ventures, Anthem Ventures, Vulcan Capital Growth Equity, Peppy Capital Partners, Arcturus Venture Capital, along with others. The company offers up online pricing of news cars as well as powers affiliate car buying programs.