Deal is closed — no further trading in ACVA. Monitor Copart (CPRT) for integration updates and potential accretion/dilution disclosures in upcoming earnings calls. The combined entity's scale in dealer trade-ins, wholesale remarketing and salvage disposition creates a fully complete remarketing platform.
Price Chart
Executive Summary
Copart (CPRT) completed its acquisition of ACV Auctions (ACVA) via a cash tender offer at $10.50/share. The offer expired on October 15, 2026, with 116,818,409 shares (68.43% of outstanding) validly tendered, satisfying the minimum condition. Copart then effected a short-form merger under DGCL Section 251(h), converting all remaining shares into the right to receive the same $10.50/share. ACVA shares have ceased trading on the NYSE and will be delisted. This is a final amendment reporting the successful completion of the tender offer and merger.
Key Financial Metrics
Key Facts
- Offer price: $10.50 per share in cash
- 116,818,409 shares validly tendered (68.43% of outstanding)
- Minimum condition satisfied; all tendered shares accepted for payment
- Short-form merger completed under DGCL Section 251(h) without stockholder vote
- ACVA shares ceased trading on NYSE effective October 16, 2026
- HSR Act waiting period expired October 13, 2026 — antitrust condition satisfied
- ACV will operate as an independent subsidiary of Copart led by existing ACV management
Financial Impact
Total consideration of approximately $1.23 billion based on 116.8M shares tendered at $10.50/share, plus remaining shares converted at same price. Deal value not explicitly stated in filing.
Risk Factors
- Integration risk — combining ACV's digital auction platform with Copart's physical locations and global buyer network
- Potential shareholder appraisal rights under DGCL Section 262 — holders who properly demanded appraisal may receive different consideration different from the offer price
- Forward-looking statements in the press release note forward-looking statements carry no guarantee of future performance
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC TO-T/A Filing (Primary) | 0001193125-26-423456 |
| Document: d123963dex99a5ix.htm | 0001193125-26-423456 |
| Document: 0001193125-26-423456-index-headers.html | 0001193125-26-423456 |
| Document: 0001193125-26-423456-index.html | 0001193125-26-423456 |
| Document: 0001193125-26-423456.txt | 0001193125-26-423456 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $10.50 | awaiting T+20 | — | — |
Oct 16, 2026 10d ago | SC 14D-9/A | $10.50 | awaiting T+20 | — | — |
Oct 16, 2026 10d ago | 25-NSE | $10.50 | awaiting T+20 | — | — |
Oct 16, 2026 10d ago | SC TO-T/A | $10.50 | awaiting T+20 | — | — |
Oct 14, 2026 12d ago | SC 14D-9/A | $10.50 | awaiting T+20 | — | — |
Oct 14, 2026 12d ago | SC TO-T/A | $10.50 | awaiting T+20 | — | — |
Oct 8, 2026 18d ago | SC 14D-9/A | $10.44 | awaiting T+20 | — | — |
Oct 8, 2026 18d ago | SC TO-T/A | $10.44 | awaiting T+20 | — | — |
Oct 1, 2026 25d ago | SC 14D-9/A | $10.45 | awaiting T+20 | — | — |
Oct 1, 2026 25d ago | SC TO-T/A | $10.45 | awaiting T+20 | — | — |
US Market Status
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