Close the acquisition of ADESA U.S. physical auction business

Delivered by the deadline

AI-confirmed · human review in progress Independent AI checks agreed on primary SEC or regulator evidence. Records are now being reviewed by hand, starting with those our customers order.

Announced: 24 Feb 2022
Due: 30 Jun 2022

Deadline
Met
Late
Not met
Today

What the company said

“The acquisition is expected to close in the second quarter of 2022 and will be financed with $3.275 billion in committed debt financing to fund the $2.2 billion purchase price”

SourceCarvana Form 8-K press release, 2022-02-24
FilingSEC filing index
Deadline as statedin the second quarter of 2022
Deadline used30 Jun 2022, the last day of the stated period
TypeTransaction
Permanent referenceKI-C-2022-CVNA-012562
Cite as https://keptindex.org/c/KI-C-2022-CVNA-012562/ — this address never changes.

What we found

Evidence strength A What the grades mean

Carvana successfully completed the acquisition of the ADESA U.S. physical auction business for $2.2 billion, as confirmed by multiple SEC filings referencing the completed transaction.

A
Carvana 8-K filed 2022-08-04 Regulatory filing · published 4 Aug 2022 · retrieved 17 Oct 2026 · kept permanently by the SEC · fingerprint 9cb43e21bd68
“Physical Auction business from KAR Global for $2.2 billion. The purchase price of the acquisition and funding for future improvements was funded through the issuance of $3.275 billion of new senior notes due 2030.” ✓ confirmed on the page
A
Carvana 10-Q filed 2022-08-04 Regulatory filing · published 4 Aug 2022 · retrieved 17 Oct 2026 · kept permanently by the SEC · fingerprint 3a283e2a3fdc
“Cash used in investing activities was $2.5 billion and $174 million during the six months ended June 30, 2022 and 2021, respectively, an increase of $2.4 billion, primarily driven by our acquisition of the U.S. physical auction business of ADESA for approximately $2.2 billion” ✓ confirmed on the page

Market reaction: the shares moved +33.5% against the S&P 500 over the three sessions around the disclosure (3 Aug 2022 to 8 Aug 2022). What this measures

Checked 17 Oct 2026.

Commitment lineage

Every time the company restated this commitment. The original is never changed, and the outcome is always measured against version 1.

Deadline drift -30 days
2 versions

Version 1 · original · stated 24 Feb 2022

Deadline 30 Jun 2022 (“in the second quarter of 2022”) · wording expected
Version 2 · stated 20 Apr 2022

Deadline 31 May 2022 (“in May 2022”) · wording expected

“On February 24th, 2022, we announced an agreement to acquire the ADESA U.S. Physical Auction business from KAR Global for $2.2 billion. The transaction is expected to close in May 2022.”
Source for this version

Commitment DNA

The structured record of this commitment. Fields the company did not state are left blank rather than guessed.

Event type: Acquisition close
Indicative materiality: High rules
Action: Close
Deliverable: ADESA U.S. physical auction business
Where: U.S.
Language: Expected (“expects”, “plans”)
In the company’s control: Medium
Specificity: High
Conditional: Yes: subject to customary closing conditions
Depends on: Regulatory, Counterparty

How this entry was checked

Commitment recordedThe company's words were matched word for word against the filing.
First checkAn AI model, Gemini (Google), read the company's later filings and recorded the outcome with a quoted passage.
Second check: agreesA different AI model, Claude (Anthropic), re-read the evidence without being told the outcome and reached the same answer.

Confirmed. This outcome counts towards the company's Kept Score. How verification works

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