Carvana CEO part of $600M stock purchase deal; company withdraws prior financial guidance

The CEO and controlling shareholder of Carvana Co. (NYSE: CVNA) are among the investors taking part in a $600 million direct share offering as the Tempe-based online automobile retailer looks to shore up its balance sheet to buffer the effects of the economic shock due to the spread of the coronavirus. The company is offering 13.3 million shares of common stock at $45 apiece, with the offering expected to close April 1. Net proceeds are to be used for general corporate purposes, according to a…