ACV Auctions has filed with the Securities and Exchange Commission (SEC) to raise up to $100 million for an initial public offering.
ACV Auction is a mobile platform for wholesale car auctions that provides a digital marketplace for transactions and data services offering detailed vehicle information for customers, according to the company.
The company had previously filed confidentially with the Securities and Exchange Commission in December for the IPO, and it made the prospectus public on Friday, according to Barrons.
The company has facilitated 750,000 wholesale transactions with more than 21,000 dealers and commercial partners since its inception, ACV Auctions said. The company offers services to 125 territories, covering a majority of all dealer locations within the continental U.S.
The company plans to list on the Nasdaq under the symbol ACVA. Joint bookrunners on the deal include Goldman Sachs, J.P. Morgan, Citi, BofA Securities and Jefferies, with no pricing terms disclosed.