Copart, Inc. has completed its acquisition of ACV Auctions Inc. through a cash tender offer executed by its wholly owned subsidiary, Apple Merger Sub, Inc.
The tender offer commenced on September 17, 2026, at a price of $10.50 per share, net to the seller in cash, without interest, subject to applicable withholding taxes. The offer expired at 5:00 p.m., Eastern Time, on October 15, 2026. According to Computershare Trust Company, N.A., the depositary for the offer, 116,818,409 shares of ACV common stock were validly tendered and not withdrawn by the expiration date. This represented approximately 68.43% of the total issued and outstanding shares of ACV common stock.
Following the expiration of the tender offer, all validly tendered shares were accepted for payment. Subsequently, Copart completed the merger of Apple Merger Sub with and into ACV on October 16, 2026. As a result of the merger, all remaining outstanding shares of ACV common stock were converted into the right to receive the same $10.50 per share cash consideration. Shares of ACV common stock have ceased trading on the New York Stock Exchange, and ACV now operates as an independent subsidiary of Copart.
Under the terms of the transaction, ACV’s Employee Stock Purchase Plan was terminated, and all outstanding purchase rights under the plan were exercised. Additionally, outstanding stock options and restricted stock units were converted into cash or options to acquire shares of Copart common stock, depending on their vesting status and exercise prices.
