KAR Auction Services Common Stock Offering

KAR Auction Services, Inc. announced the commencement of an underwritten offering of 13.0 million shares of its common stock by existing stockholder KAR Holdings II, LLC (the “LLC”), subject to market and other conditions. The LLC is controlled by entities affiliated with Kelso Investment Associates VII, L.P., GS Capital Partners VI, L.P., ValueAct Capital Master Fund, L.P. and Parthenon Investors II, L.P. The Company will not receive any proceeds from the offering. In connection with the offering, the LLC intends to grant the underwriters an option to purchase up to 1.95 million additional shares.

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