Equity Capital Markets
• On May 19, 2021, Lithia Motors & Driveway (“Lithia” or the “Company”) announced the pricing of an underwritten public offering of 3,105,590 shares of its Class A common stock at a price to the public of $322.00 per share (the “Follow-On Offering”)
• The Company intends to use net proceeds from the Follow-On Offering for general corporate purposes, which may include financing possible acquisitions, repaying or refinancing debt, working capital, and capital expenditures
• Lithia concurrently announced the pricing of its private offering of $800 million aggregate principal amount of its 3.875% senior notes due 2029 (the “Notes Offering”)
− The closing of the Follow-On Offering is not conditioned upon the closing of the Notes Offering, or vice versa
Lithia Motors & Driveway
Lithia Motors & Driveway (NYSE: LAD) is a growth company powered by people and innovation with a 5-year plan to profitably consolidate the largest retail sector in the country. They are a leading provider of personal transportation solutions in the United States and are among the fastest-growing companies in the Fortune 500 (#6 on 10-Year EPS Growth, #4 10-Year TSR in 2020). By providing a wide array of products throughout the entire lifecycle of the consumer's vehicle ownership experience through various consumer channels, they build magnetic brand loyalty.
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The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR
72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link: https://www.sec.gov/Archives/edgar/data/1023128/000119312521165594/d528630d424b5.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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