DealerTrack To Raise NewCapital
LAKE SUCCESS, N.Y. - (10/13/05) -- DealerTrack Holdings Inc., producersof a popular interface for credit union indirect lending, said itplans to raise as much as $110 million with an initial publicoffering of 10 million shares. As part of the IPO, investors willsell about 3.3 million of those shares. The investors include JPMorgan Chase, Wells Fargo, Capital One, AmeriCredit, WFS WebInvestments and ACF Investments. The company uses the Internet tolink auto dealers with credit unions, banks and finance companies.Proceeds from the offering will be used to repay debt and forgeneral corporate purposes. The shares will be listed on the Nasdaqunder the symbol TRAK.