Copart Completes Acquisition of ACV Auctions Inc.

Event Overview

On October 16, 2026, Copart, Inc. (NASDAQ: CPRT) completed its acquisition of ACV Auctions Inc. (NYSE: ACVA) pursuant to the Agreement and Plan of Merger dated September 10, 2026.

Transaction Structure & Terms

• Purchase Price: $10.50 per share in cash, net to the seller without interest.
• Tender Offer Results: The tender offer expired at 5:00 p.m. ET on October 15, 2026. A total of 116,818,409 shares of ACV common stock were validly tendered and not withdrawn, representing approximately 68.43% of outstanding shares.
• Merger Consummation: Following the tender offer, Apple Merger Sub, Inc. merged with and into ACV Auctions Inc. pursuant to Section 251(h) of the Delaware General Corporation Law (DGCL) without a vote of ACV stockholders.
• Post-Closing Status: ACV common stock ceased trading on the New York Stock Exchange and ACV will operate as an independent subsidiary of Copart led by ACV's existing leadership team.

Strategic Implications

The acquisition expands Copart's digital and dealer wholesale remarketing presence, complementing its salvage and vehicle auction network with ACV's dealer trade-in and wholesale platforms.