OPENLANE Completes Conversion of All Series A Preferred Stock to Common Stock

OPENLANE, Inc. completed the conversion of all remaining outstanding shares of its Series A Convertible Preferred Stock into common stock on June 2, 2026. This transaction eliminates the company’s remaining preferred equity obligations, resulting in the issuance of common shares to the holders of the preferred stock in accordance with the terms of the original agreement.

The conversion process concludes the company’s previously established capital structure transition. By converting these shares, OPENLANE simplifies its equity base, as the Series A preferred shares no longer exist within the company’s capital stack. The company confirmed that this action fulfills the final requirements regarding the Series A preferred equity, and it now reflects a common-stock-only equity structure.

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Date: June 2, 2026

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GOAI