TrueCar Prices IPO At $9.00/shr

(RTTNews) - TrueCar (TRUE) announced the pricing of its initial public offering of 7.78 million shares of its common stock at a price to the public of $9.00 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on May 16, 2014 under the symbol "TRUE."

In addition, TrueCar granted the underwriters a 30-day option to purchase up to 1.17 million additional shares of common stock from TrueCar at the initial public offering price. The offering is expected to close on May 21, 2014, subject to customary closing conditions.

Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. RBC Capital Markets, LLC is also acting as a book-running manager. Cowen and Company, LLC and JMP Securities LLC are acting as co-managers.