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Corporation
RETAIL (NON-INTERNET/MOBILE) | Auto
asburyauto.com

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Founded Year

1995

Stage

IPO | IPO

Date of IPO

3/11/2002

Market Cap

3.79B

Stock Price

159.79

About Asbury Automotive Group

Asbury Automotive Group, dba Nalley Motor Trucks, operates commercial truck and bus dealerships in the greater Atlanta, Georgia. Asbury also operates collision repair centers and stand-alone used vehicle stores. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts.

Asbury Automotive Group Headquarter Location

2905 Premiere Parkway NW Suite 300

Duluth, Georgia, 30097,

United States

770-418-8200

Latest Asbury Automotive Group News

Asbury Automotive Group Announces Pricing Of Common Stock Offering

Nov 3, 2021

Asbury Automotive Group Announces Pricing Of Common Stock Offering Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest U. Author: Asbury Automotive Group, Inc. ( ABG ) - Get Asbury Automotive Group, Inc. Report , one of the largest U.S.-based franchised automotive retailers ("Asbury"), announced today that it has priced its previously announced public offering of 3,300,000 shares of its common stock at $182.00 per share, all of which will be sold by Asbury. Additionally, Asbury has granted the underwriters in the offering an option for a period of 30 days to purchase up to 495,000 additional shares of its common stock. The offering is expected to close on November 5, 2021, subject to customary closing conditions. Asbury intends to use the proceeds of this offering, together with the proceeds of the concurrent offering of Senior Notes due 2029 and Senior Notes due 2032, additional borrowings and cash on hand, to fund, if consummated, the acquisition (the "LHM Acquisition") of all of the equity interests of, and the real property related to, the businesses of the Larry H. Miller dealerships and Total Care Auto, Powered by Landcar (collectively, the "LHM Business") and pay fees and expenses in connection therewith and to use the balance of the proceeds, if any, for general corporate purposes, including other dealership acquisitions or capital investments. Asbury's common stock is listed on the New York Stock Exchange under the symbol "ABG." J.P. Morgan Securities LLC, BofA Securities and Wells Fargo Securities, LLC are serving as joint book-running managers. BTIG, LLC, Comerica Securities, Inc. and Santander Investment Securities Inc. are acting as co-managers for the offering. J.P. Morgan Securities LLC and BofA Securities are also serving as representatives of the underwriters for the offering. An automatic shelf registration statement on Form S-3 relating to the securities being offered has been filed with the Securities and Exchange Commission (the "SEC") and has become effective. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available free of charge on the SEC's website at http://www.sec.gov . Copies of the preliminary prospectus supplement and accompanying prospectus relating to this offering of securities may also be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com ; or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus_requests@bofa.com . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") and the Private Securities Litigation Reform Act of 1995, including with respect to our ability to consummate this offering. Forward-looking statements are statements that are not historical in nature and may include statements relating to the timing of closing of the offering, our goals, plans and projections regarding industry and general economic trends, our expected financial position, the expected terms or timeline of the currently contemplated LHM Acquisition, the anticipated cost savings, run-rate synergies, revenue enhancement strategies, operational improvements and other benefits from the LHM Acquisition, results of operations or market position and our business strategy. Such statements can generally be identified by words such as "may," "target," "could," "would," "will," "should," "believe," "expect," "anticipate," "plan," "intend," "foresee" and other similar words or phrases. Actual results are subject to a number of risks and uncertainties and may differ materially from the current expectations and beliefs discussed in this press release. All information set forth in this release is as of the date hereof. We do not intend, and undertake no duty, to update this information to reflect future events or circumstances. Information about certain potential factors that could affect our business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our Annual Report on Form 10-K for the year ended December 31, 2020, which is on file with the U.S. Securities and Exchange Commission (the "SEC"). Asbury qualifies all of its forward-looking statements by these cautionary statements and you should not place undue reliance on Asbury's forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20211102006393/en/ By

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CB Insights Intelligence Analysts have mentioned Asbury Automotive Group in 1 CB Insights research brief, most recently on Jun 11, 2020.

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