04:50 PM EDT, 09/18/2024 (MT Newswires) -- America's Car-Mart (CRMT) said late Wednesday it plans to sell $65 million shares in an underwritten public offering, with Jefferies as its bookrunning manager.

The company said it intends to grant its underwriters a 30-day option to buy up to an additional $9.75 million shares.

Net proceeds will be used to repay a portion of its revolving credit facilities and for general corporate purposes, the firm said.

Shares of the company fell about 11% in after-hours activity.

Price: 44.18, Change: -5.78, Percent Change: -11.57