The automotive pricing data company previously raised $425m from backers including USAA, Capital One and Dealertrack.
US-based online automotive pricing guide Truecar has raised $70m from an initial public offering despite floating substantially below its range.
Truecar issued almost 7.8 million shares priced at $9.00 each, after the range had been set earlier this month at between $12.00 and $14.00. Truecar debuted at $9.74 on Friday and peaked at $10.76 before closing at $10.06. At the time of writing its stock is at $9.90.
Financial services company United Services Automobile Association has remained Truecar’s largest shareholder,…
