Carvana receives warrant to buy shares in Slate Auto
Documents show the used-car retailer was granted the option in 2025 around the time Slate raised a $650 million funding round. The companies have not confirmed whether the warrant has been exercised.
nbcnews.comDocuments filed with Delaware’s division of corporations show that Carvana received a warrant to purchase shares in Slate Auto in 2025, according to reporting by TechCrunch. The filing occurred near the same period Slate was assembling its $650 million Series C round.
The warrant’s size and current status remain undisclosed. Carvana declined to comment on the arrangement, and Slate Auto did not respond to requests for comment.
Expansion plans The Wall Street Journal reported that Carvana is exploring entry into new-car sales and has acquired several Stellantis dealerships. On a recent earnings call, company leadership told analysts to “stay tuned” regarding those plans. Slate Auto is preparing to announce final pricing and accept nonrefundable preorders for a low-cost electric vehicle expected to start in the mid-$20,000 range.
The company has stated it will deliver its first vehicles by the end of this year and plans to sell directly to customers without traditional dealerships.
Investor overlap Guggenheim Partners CEO Mark Walter holds an 8 percent stake in Carvana’s Class B common stock and a 1 percent share of overall voting power. The same individual’s firm, TWG Global, led Slate Auto’s Series C round. In a March regulatory filing, Carvana disclosed receiving a warrant valued at $1.5 million at year-end 2025 from a private consumer-products company in which Walter holds a substantial ownership interest.
The filing did not name the issuer.
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