TrueCar Inc (NASDAQ:TRUE) shares are trading higher Wednesday afternoon after the company announced it will be acquired by a founder-led strategic investor group. Here’s what investors need to know.
- TRUE is surging to new heights today. Get the scoop here.
What To Know: TrueCar has entered into a definitive agreement under which Fair Holdings will acquire the company in a go-private transaction at $2.55 per share, giving the deal an equity value of approximately $227 million.
The acquiring group, led by TrueCar founder Scott Painter, includes financial and strategic investors who are committed to the company’s long-term growth. Painter will return as the company’s leader post-close.
The transaction, which is expected to close in the first quarter of 2026, has been unanimously approved by TrueCar’s board of directors. The board recommends that all stockholders vote in favor of the transaction. The deal is still subject to customary closing conditions
“This transaction is a win-win for TrueCar, our investors, our affinity partner network, Certified Dealers and car buyers. The proposed Syndicate would bring deep operational experience, industry insight, and long-term commitment to innovation, which should help TrueCar in its next chapter,” said Jantoon Reigersman, CEO of TrueCar.
TRUE Price Action: TrueCar shares were up 59.46% at $2.36 at the time of publication on Wednesday, according to Benzinga Pro data.
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