Penske Automotive Group, Inc S-3ASR, filed Oct 30, 2025

Penske Automotive Group, Inc. (PAG)

S-3ASR 2025-10-30

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Delaware						22-3086739
(State or Other Jurisdiction of Incorporation or Organization)						(I.R.S. Employer Identification No.)


			Page
About this Prospectus			1
Disclosure Regarding Forward-Looking Statements			2
The Company			6
Risk Factors			8
Use of Proceeds			9
Description of Debt Securities			10
Description of Capital Stock			16
Description of Preferred Stock			19
Description of Common Stock			21
Description of Warrants to Purchase Debt Securities			23
Description of Warrants to Purchase Common or Preferred Stock			24
Description of Subscription Rights to Purchase Common Stock			25
Plan of Distribution			27
Selling Securityholders			28
Legal Matters			29
Experts			29
Where You Can Find More Information			29


SEC registration fee			$ *
Printing expenses			**
Legal fees and expenses			**
Accounting fees and expenses			**
Rating agency fees			**
Transfer agent, trustee and depositary fees and expenses			**
Miscellaneous			**
Total			$ **


Exhibit Number						Description
*1.1						Form(s) of Underwriting Agreement.
4.1						Fourth Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Company’s Form 10-Q filed on July 27, 2023).
4.2						Second Amended and Restated Bylaws as of February 16, 2023 (incorporated by reference to Exhibit 3.1 to the Company’s Form 8-K filed on February 17, 2023.
4.3						Form of Senior Indenture between the Company and The Bank of New York Mellon Trust Company, N.A. (incorporated by reference to Exhibit 4.3 to the Company’s Registration Statement on Form S-3 filed on February 24, 2017, Registration No. 333-216228).
4.4						Subordinated Indenture dated as of November 21, 2014 between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (incorporated herein by reference to Exhibit 4.1 to the Company’s Form 8-K filed on November 21, 2014).
4.5						Specimen Common Stock Certificate (incorporated herein by reference to Exhibit 4.5 to the Company’s Registration Statement on Form S-1 filed on January 21, 2010, Registration No. 333-164453).
*4.6						Form of Debt Warrant Agreement, including forms of Debt Warrant Certificates.
*4.7						Form of Common Stock Warrant Agreement, including Warrant Certificate of Common Stock.
*4.8						Form of Preferred Stock Warrant Agreement, including Warrant Certificate for Preferred Stock.
*4.9						Certificate of Designation of Preferred Stock.
*4.10						Form of Subscription Rights Certificate
5						Opinion of Shane M. Spradlin, General Counsel of the Company, as to the legality of the securities being registered.
22						List of Guarantor Subsidiaries under the Company’s Senior Subordinated Notes Exhibit 22 - S-3ASR
23.1						Consent of Deloitte & Touche LLP.
23.2						Consent of Shane M. Spradlin, General Counsel of the Company (contained in Exhibit 5).
24						Powers of attorney (included on signature pages).
25.1						Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939, as amended, of The Bank of New York Mellon Trust Company, N.A., as Trustee for the form of Senior Indenture.
25.2						Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939, as amended, of The Bank of New York Mellon Trust Company, N.A., as Trustee for the Subordinated Indenture dated as of November 21, 2014.
107						Filing Fee Table.


			PENSKE AUTOMOTIVE GROUP, INC.

			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Executive Vice President and Chief Financial Officer


			PAG Atlanta Management, LLC

			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Assistant Treasurer


			Danbury Auto Partnership
			DiFeo Nissan Partnership
			DiFeo Tenafly Partnership
			Hudson Motors Partnership
			OCT Partnership

			By: DiFeo Partnership, LLC

			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Assistant Treasurer


			Late Acquisition I, LLC
			PAG West, LLC
			UnitedAuto Scottsdale Property Holdings, LLC


			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Assistant Treasurer


			PAG International Services, LLC
			UAG International Holdings, Inc.
			UAG Realty, LLC


			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Treasurer


CJNS, LLC	PAG Santa Ana AVW, Inc.
Classic Special Advertising, Inc.	PAG Santa Ana B1, Inc.
Classic Special Automotive GP, LLC	PAG Surprise T1, Inc.
Classic Special, LLC	PAG Tempe M1, LLC
D. Young Chevrolet, LLC	PAG Texas 244, LLC
Dan Young Motors, LLC	PAG Texas Management Company, LLC
Europa Auto Imports, Inc.	PAG West 293, Inc.
GMG Motors, Inc.	Peter Pan Motors, Inc.
HT Automotive, LLC KMT	PMRC, LLC
KMT/UAG, Inc.	Relentless Pursuit Enterprises, Inc.
Late Acquisition II, LLC	SA Automotive, Ltd.
PAG Austin L1, LLC	SAU Automotive, Ltd.
PAG Chandler JLR, LLC	Scottsdale 101 Management, LLC
PAG Clovis T1, LLC	Scottsdale Ferrari, LLC
PAG East 295, LLC	Scottsdale Management Group, LLC
PAG East 296, LLC	Scottsdale Paint & Body, LLC
PAG Indiana G1, LLC	Sigma Motors, Inc.
PAG Indiana H1, LLC	SK Motors, LLC
PAG Leander H1, LLC	SL Automotive, LLC
PAG Leander H2, LLC	Sun Motors, LLC
PAG Marin M1, Inc.	Tamburro Enterprises, Inc.
PAG McAllen H1, LLC	UAG Capitol, Inc.
PAG McAllen T1, LLC	UAG Clovis, Inc.
PAG Michigan 165, LLC	UAG Escondido A1, Inc.
PAG North Orange A1, Inc.	UAG Escondido H1, Inc.
PAG North Scottsdale BE, LLC	UAG Escondido M1, Inc.
PAG North Scottsdale M1, LLC	UAG Los Gatos, Inc.
PAG North Scottsdale PP1, LLC	UAG San Diego A1, Inc.
PAG Northern California Management, Inc.	UAG San Diego AU, Inc.
PAG Ontario B1, Inc.	UAG San Diego Management, Inc.
PAG Orange County L1, Inc.	UAG Stevens Creek II, Inc.
PAG Orange County Management Company, Inc.	UAG VK, LLC
PAG Orange County RR1, Inc.	United Ranch Automotive, LLC
PAG Orange County S1, Inc.
	By:	/s/ Bernard W. Wolfe
		Bernard W. Wolfe,
		Chair of the Board


			Dan Young Chevrolet, Inc.
			PAG AZ Properties, LLC
			PAG Madison T1, LLC
			UAG Minneapolis B1, LLC


			By:			/s/ Bernard W. Wolfe
						Bernard W. Wolfe
						Chair of the Board and President


			Carshop Supercenters, LLC
			Carshop, LLC
			Florida Chrysler Plymouth, Inc.
			Gene Reed Chevrolet, Inc.
			Goodson Spring Branch, LLC
			Landers Ford North, Inc.
			PAG Acquisition 27, LLC
			PAG Acquisition 28, LLC
			PAG Distributor S1, LLC
			PAG Goodyear F1, LLC
			PAG Madison L1, LLC
			Peachtree Nissan, Inc.
			UAG Carolina, Inc.
			UAG Marin, Inc.
			UAG Royal Palm M1, LLC
			UAG Texas II, Inc.
			UAG Texas, LLC
			UAG Houston Acquisition, Ltd.
			United Nissan, Inc. (GA)
			United Nissan, Inc. (TN)
			West Palm Auto Mall, Inc.

			By:			/s/ Robert H. Kurnick, Jr.
						Robert H. Kurnick, Jr.,
						Chair of the Board and President


			eCarShop, LLC
			PAG Acquisition 71, LLC
			PAG TL1, LLC

			By:			/s/ Robert H. Kurnick, Jr.
						Robert H. Kurnick, Jr.,
						President


			WTA Motors, Ltd.

			By: Late Acquisition II, LLC
			Its: General Partner

			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Assistant Treasurer


			Premier Protection Licensing, LLC


			By:			/s/ Robert H. Kurnick, Jr.
						Robert H. Kurnick, Jr.
						President


Auto Mall Payroll Services, Inc.			PAG New Jersey JL3, LLC
Classic Auto Group, Inc.			PAG New Jersey P1, LLC
Classic Enterprises, LLC			PAG Orlando General, LLC
Classic Imports, Inc.			PAG Orlando Limited, LLC
Classic Management Company, Inc.			PAG Roswell B1, LLC
Classic Motor Sales, LLC			PAG Turnersville AU, LLC
Classic Nissan of Turnersville, LLC			Palm Auto Plaza, LLC
Classic Turnersville, Inc.			SDG Automotive Investments, LLC
Dealer Accessories, LLC			UAG Atlanta H1, LLC
Don Allen Auto Service, Inc.			UAG Atlanta IV Motors, LLC
FRN of Tulsa, LLC			UAG Central Region Management, LLC
HBL, LLC			UAG Chantilly AU, LLC
Motorcars Acquisition VI, LLC Motor			UAG Classic, Inc.
Motorcars Acquisition IV, LLC			UAG Connecticut, LLC
Motorcars Acquisition V, LLC			UAG Duluth, Inc.
Motorcars Acquisition, LLC			UAG Fayetteville I, LLC
PAG Annapolis JL1, LLC			UAG Fayetteville II, LLC
PAG Bedford A1, LLC			UAG Fayetteville III, LLC
PAG Bedford P1, LLC			UAG Hudson CJD, LLC
PAG Bedford Properties, LLC			UAG Hudson, Inc.
PAG Central 262, LLC			UAG Kissimmee Motors, LLC
PAG Central 266, LLC			UAG Landers Springdale, LLC
PAG Chantilly M1, LLC			UAG Memphis II, Inc.
PAG Chantilly P1, LLC			UAG Mentor Acquisition, LLC
PAG Charlotte M1, LLC			UAG West Bay AM, LLC
PAG Connecticut LR1, LLC			UAG West Bay IAU, LLC
PAG Davie P1, LLC			UAG West Bay II, LLC
PAG Greenwich B1, LLC			UAG West Bay IL, LLC
PAG Greenwich Holdings, LLC			UAG West Bay IM, LLC
PAG Mentor A1, LLC			UAG West Bay IP, LLC
PAG New Jersey A1, LLC			UAG West Bay IW, LLC
PAG New Jersey JL1, LLC			UAG Young II, Inc.
PAG New Jersey JL2, LLC			UAG-Caribbean, Inc.


			Premier Protection Products, LLC


			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Assistant Treasurer


			PAG Investments, LLC


			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Treasurer


			UAG Finance Company, Inc.


			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						President and Treasurer


			Classic Oldsmobile Pontiac-GMC Truck, Ltd.
			Classic Special Automotive, Ltd.
			Classic Special Hyundai, Ltd.
			Hill Country Imports, Ltd.

			By: Tamburro Enterprises, Inc.
			Its: General Partner

			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Assistant Treasurer


			PAG Orlando Partnership, Ltd.

			By: PAG Orlando General, LLC
			Its: General Partner

			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Assistant Treasurer


			Penske Commercial Vehicles US, LLC

			By:			PAG Investments, LLC

			By:			/s/ Michelle Hulgrave
						Michelle Hulgrave
						Assistant Treasurer


ATC Chattanooga, LLC
ATC Knoxville, LLC
ATC Realty Investments, LLC
ATC West Texas, LLC
PTG Missouri, LLC
PTG of Idaho, LLC
PTG of Utah, LLC
PTG Oregon, LLC
PTG Wisconsin, LLC
Single Source Truck Parts, LLC
The Around the Clock Freightliner Group, LLC


	By:	Penske Commercial Vehicles US, LLC

	By:	/s/ Michelle Hulgrave
		Michelle Hulgrave
		Assistant Treasurer


						CarShop Holdings, LLC
						DiFeo Partnership, LLC
						Landers Auto Sales, LLC
						PAG East, LLC
						PAG New Jersey CS, LLC
						PAG Pennsylvania CS, LLC
						UAG Northeast, LLC
						UAG Tulsa Holdings, LLC
						UAG Turnersville Realty, LLC

			By:			/s/ Tyler Heard
						Tyler Heard
						Chair and President


						UAG East, LLC
						UnitedAuto Finance, Inc.

			By:			/s/ Tyler Heard
						Tyler Heard
						President


			Very truly yours,

			/s/ Shane M. Spradlin
			SHANE M. SPRADLIN
			GENERAL COUNSEL


PAG CHARLOTTE M1, LLC

PAG CLOVIS T1, INC.

PAG CONNECTICUT LR1, LLC

PAG DAVIE P1, LLC

PAG DISTRIBUTOR S1, LLC

PAG EAST, LLC

PAG EAST 295, LLC

PAG EAST 296, LLC

PAG GOODYEAR F1, LLC

PAG GREENWICH B1, LLC

PAG GREENWICH HOLDINGS, LLC

PAG INDIANA G1, LLC

PAG INDIANA H1, LLC

PAG INTERNATIONAL SERVICES, LLC

PAG INVESTMENTS, LLC

PAG LEANDER H1, LLC

PAG LEANDER H2, LLC

PAG MADISON L1, LLC

PAG MADISON T1, LLC

PAG MARIN M1, INC.

PAG MCALLEN H1, LLC

PAG MCALLEN T1, LLC

PAG MENTOR A1, INC.

PAG MICHIGAN 165, LLC

PAG NEW JERSEY A1, LLC

PAG NEW JERSEY CS, LLC

PAG NEW JERSEY JL1, LLC


(Jurisdiction of incorporation if not a U.S. national bank)			95-3571558 (I.R.S. employer identification no.)
333 South Hope Street Suite 2525 Los Angeles, California (Address of principal executive offices)			90071 (Zip code)


Delaware (State or other jurisdiction of incorporation or organization)			22-3086739 (I.R.S. employer identification no.)


Exact Name of Registrant as Specified in its Charter	State or Other Jurisdiction of Incorporation or Organization	I.R.S. Employer Identification Number
ATC CHATTANOOGA, LLC	Delaware	38-3944558
ATC KNOXVILLE, LLC	Delaware	36-4798298
ATC REALTY INVESTMENTS, LLC	Oklahoma	46-1057967
ATC WEST TEXAS, LLC	Delaware	38-3933090
AUTO MALL PAYROLL SERVICES, INC.	Florida	65-0168491
CARSHOP HOLDINGS, LLC	Delaware	85-3104278
CARSHOP, LLC	Tennessee	85-3114300
CARSHOP SUPERCENTERS, LLC	Delaware	84-4917227
CJNS, LLC	Delaware	86-1024936
CLASSIC AUTO GROUP, INC.	New Jersey	22-3115638
CLASSIC ENTERPRISES, LLC	Delaware	37-1770317
CLASSIC IMPORTS, INC.	New Jersey	22-3528527
CLASSIC MANAGEMENT COMPANY, INC.	New Jersey	22-3271563
CLASSIC MOTOR SALES, LLC	Delaware	22-3555425
CLASSIC NISSAN OF TURNERSVILLE, LLC	Delaware	52-2097845
CLASSIC OLDSMOBILE-PONTIAC-GMC TRUCK, LTD.	Texas	74-2355160
CLASSIC SPECIAL ADVERTISING, INC.	Texas	74-2821777
CLASSIC SPECIAL AUTOMOTIVE GP, LLC	Texas	87-3514844
CLASSIC SPECIAL AUTOMOTIVE, LTD.	Texas	74-2974762
CLASSIC SPECIAL HYUNDAI, LTD.	Texas	74-2974736


2555 Telegraph Road Bloomfield Hills, Michigan (Address of principal executive offices)			48302 (Zip code)


Name						Address
Comptroller of the Currency United States Department of the Treasury						Washington, DC 20219
Federal Reserve Bank						San Francisco, CA 94105
Federal Deposit Insurance Corporation						Washington, DC 20429


THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A.

By:	/s/	Melissa Matthews
	Name:	Melissa Matthews
	Title:	Agent


	Dollar amounts in thousands

ASSETS


Cash and balances due from
depository institutions:
Noninterest-bearing balances and currency and coin			9,503
Interest-bearing balances			224,982
Securities:
Held-to-maturity securities			0
Available-for-sale debt securities			98,650
Equity securities with readily determinable fair values not held for trading			0
Federal funds sold and securities purchased under agreements to resell:
Federal funds sold in domestic offices			0
Securities purchased under agreements to resell			0
Loans and lease financing receivables:
Loans and leases held for sale			0
Loans and leases held for investment			0
LESS: Allowance for credit losses on loans and
leases			0
Loans and leases held for investment,
net of allowance			0
Trading assets			0
Premises and fixed assets (including right-of-use assets)			8,796
Other real estate owned			0
Investments in unconsolidated subsidiaries and associated companies			0
Direct and indirect investments in real estate ventures			0
Intangible assets			856,313
Other assets			127,415

Total assets		$1,325,659


LIABILITIES

Deposits:
In domestic offices		797
Noninterest-bearing		797
Interest-bearing		0

Federal funds purchased and securities sold under agreements to repurchase:
Federal funds purchased in domestic offices		0
Securities sold under agreements to repurchase		0
Trading liabilities		0
Other borrowed money:
(includes mortgage indebtedness)		0
Not applicable
Not applicable
Subordinated notes and debentures		0
Other liabilities		258,686
Total liabilities		259,483
Not applicable


EQUITY CAPITAL

Perpetual preferred stock and related surplus		0
Common stock		1,000
Surplus (exclude all surplus related to preferred stock)		107,683
Not available
Retained earnings		957,483
Accumulated other comprehensive income		10
Other equity capital components		0
Not available
Total bank equity capital	1,066,176
Noncontrolling (minority) interests in consolidated subsidiaries		0
Total equity capital	1,066,176
Total liabilities and equity capital	1,325,659