Copart Pushes ACV Auctions Tender Deadline To October 15 After 52.84% Of Shares Tendered
The $10.50-a-share cash offer is unchanged, and Amendment No. 3 to the Schedule TO moves the expiration out eight days.
Copart's acquisition subsidiary extended its $10.50-a-share cash tender offer for ACV Auctions to 5:00 p.m. Eastern on October 15, 2026, according to Amendment No. 3 to the Schedule TO filed Thursday. Holders had tendered about 52.84% of ACV's outstanding shares as of the previous deadline.
What the amendment says
Apple Merger Sub, a wholly owned subsidiary of Copart, is offering $10.50 per share in cash, without interest and subject to any withholding taxes, for all outstanding ACV common stock. The filing leaves those terms as they were.
The new expiration replaces the earlier cutoff of 5:00 p.m. Eastern on October 7, 2026. The offer was first set to expire one minute after 11:59 p.m. Eastern on September 30, 2026, so this is the second extension under the merger agreement.
The filing amends the Schedule TO originally filed September 17, 2026. It also adds a Copart press release dated October 8, 2026 as an exhibit.
How many shares are in
Computershare Trust Company, N.A., the depositary and paying agent, told the offeror that about 90,199,271 shares had been validly tendered and not withdrawn as of the first extension expiration date. That is roughly 52.84% of the shares then outstanding.
The tender count is a majority of the stock, but the offer is still open. Holders who tendered can still withdraw while the offer runs, since withdrawal rights are tied to the same expiration date.
The amendment is signed by Leah C. Stearns, chief financial officer of both Apple Merger Sub and Copart.
What to watch
The tender period is scheduled to end at 5:00 p.m. Eastern on October 15 unless it is extended again. The amendment is the second extension under the merger agreement, and it gives no reason for the delay.
The next marker is 5:00 p.m. Eastern on October 15, 2026, when the offer expires unless Copart extends it again.
Sources
- SC TO-T/A — COPART INC (CPRT) re: ACV Auctions Inc. — SEC EDGAR
- Copart of Connecticut, Inc. v. City of Canton, Mississippi et al — law360.com
- Copart, Inc. (CPRT) Stock Forecasts — Yahoo Finance
- Copart, Inc. (CPRT) Exceeds Market Returns: Some Facts to Consider — Yahoo Finance
- Copart, Inc. v. Sparta Consulting, Inc. — law360.com
