# CarGurus, Inc. (CARG) — merger/definitive [announced]
Source: SEC API (secapi.ai) · situation sit_a7d12aed1833e279322a · retrieved 2026-08-12T07:00:25.233Z

## Overview
CarGurus, Inc. is an online automotive marketplace that provides a platform for buying and selling vehicles.

CarGurus, Inc. entered into a First Amendment to its Credit Agreement with PNC Bank, National Association and other lenders on August 6, 2026. The amendment reduces the aggregate revolving commitments from $400.0 million to $200.0 million, extends the maturity date from September 26, 2027 to August 6, 2031, increases the cap of the Cash-Capped Incremental Facility to the greater of $380.0 million and 100% of trailing four quarters of consolidated EBITDA, and adds a new incurrence-based covenant limiting the Consolidated Total Gross Leverage Ratio to 6.25:1.00.

## Terms
- Counterparty: PNC Bank, National Association · Deal value: $200.0M

## Key dates
- Announced 2026-08-06 · Expiry 2031-08-06

## Timeline
- 2026-08-06 · 8-K (0001193125-26-338014): 8-K - CarGurus, Inc. — *CarGurus, Inc. is an online automotive marketplace that provides a platform for buying and selling vehicles.* CarGurus, Inc. entered into a First Amendment to its Credit Agreement with PNC Bank, National Association and other lenders on August 6, 2026. The amendment reduces the aggregate revolving commitments from $400.0 million to $200.0 million, extends the maturity date from September 26, 2027 to August 6, 2031, increases the cap of the Cash-Capped Incremental Facility to the greater of $380.0 million and 100% of trailing four quarters of consolidated EBITDA, and adds a new incurrence-based covenant limiting the Consolidated Total Gross Leverage Ratio to 6.25:1.00.
  https://www.sec.gov/Archives/edgar/data/1494259/0001193125-26-338014.txt

## Citations
- 0001193125-26-338014 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526338014