Fair Holdings to Acquire TrueCar for $227 Million

TrueCar, Inc. (TRUE) entered a merger agreement on October 15, 2025, to be taken private by Fair Holdings, Inc. in a deal valued at $227 million.

Deal Structure:

Fair Holdings, an entity led by TrueCar founder Scott Painter, will acquire the company in an all-cash, go-private transaction at $2.55 per share, representing a premium of 72.30% from the stock’s last close.

Company Profile:

TrueCar is an automotive digital marketplace that connects car buyers and sellers with a nationwide network of Certified Dealers, offering data-driven pricing insights, trade-in tools, and digital retailing solutions to make the car-buying process more transparent and efficient.

Fair Holdings is the holding company founded by Scott Painter, overseeing ventures in digital retail and vehicle financing, including Fair and Autonomy, which operates the nation’s largest electric vehicle subscription fleet.

Deal Details and Timeline:

Scott Painter will return as Chief Executive Officer of the company.

The deal is expected to close in the fourth quarter of 2025 or early 2026.

The deal includes a 30-day “go-shop” period expiring on November 13, 2025.

The deal will be funded using a mix of equity from an affiliate of a major dealer group and cash already held by the company.

Fair Holdings plans to raise more money from the Syndicate to help pay part of the purchase price before the deal closes. If the buyer fails to complete the transaction, it has agreed to pay a reverse termination fee to TrueCar. The company’s ability to enforce other rights depends on the Syndicate securing an additional $60 million in financing, which is not guaranteed.

Morgan Stanley is serving as the financial advisor to TrueCar, with Alston & Bird providing legal counsel. Fair Holdings is being advised by B. Riley Securities on financial matters, while Perkins Coie is acting as its legal advisor.

The acquisition price that Fair Holdings is paying is 0.68 times the sales of TrueCar.

Deal Metrics:

For a more detailed breakdown of this M&A transaction, please visit the Deal Metrics page:

Deal Metrics for the acquisition of TrueCar, Inc. (TRUE) by Fair Holdings, Inc.

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

Disclaimer: Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article