TrueCar Vehicle-Buying Site Rises After $70 Million Offering
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TrueCar Inc., the auto-buying website, rose in its trading debut after it raised $70 million in an initial public offering that was below the marketed range.
TrueCar gained 12 percent to $10.06 the close in New York. The company, which provides pricing and vehicle data for consumers and helps car dealers find customers, sold 7.78 million shares yesterday for $9 each, according to data compiled by Bloomberg, after offering them for $12 to $14.