Lithia & Driveway (LAD) Announces Upsizing And Pricing Of Senior Notes Offering (Form 8-K)

Lithia & Driveway (LAD) Announces Upsizing And Pricing Of Senior Notes Offering

MEDFORD, Ore., September 3, 2025 -- Lithia & Driveway (NYSE: LAD) today announced the pricing of $600 million in aggregate principal amount of its 5.500% senior notes due 2030 (the "Notes") in a private offering (the "Private Offering"), which represents an increase of $100 million from the offering size previously announced. The Private Offering is expected to close on September 10, 2025, subject to customary closing conditions. Lithia intends to use the net proceeds of the Private Offering to repay a portion of the borrowings outstanding under its revolving lines of credit. Such amounts may be reborrowed and used for general corporate purposes, including acquisitions and working capital.

The Private Offering is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been, and will not be, registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder.