On Monday, TrueCar announced a proposed public offering of its common stock that would include an expected 1 million shares of common stock and 7.5 million shares from certain existing TrueCar stockholders.

It is anticipated that TrueCar and the selling stockholders will give the underwriters 30 days to buy up to a total of 1.275 million additional shares at the public offering price, minus underwriting discounts and commissions, the company said in a news release.

“TrueCar will not receive any proceeds from the sale of the shares by the selling stockholders. The final terms of the offering will depend on market and other conditions at the time of pricing, and there can be no assurance as to whether or when the offering may be completed,” the company said.

TrueCar said in a filing with the Securities and Exchange Commission that it plans to use net proceeds from the sale of common stock for general corporate purposes, but said it might some of the proceeds for acquisitions, though it mentioned that none were currently on tap.

TrueCar is projecting that net proceeds from the common stock sale will be about $13.9 million, once underwriting discounts and commissions and estimated offering expenses are taken care of. That could rise to $16.1 million if the underwriters’ allotment option is fully exercised.

“The estimated net proceeds are based on the assumed public offering price of $15.26 per share, which was the last reported sale price of our common stock on April 21, 2017. We will not receive any proceeds from the sale of any shares by the selling stockholders,” TrueCar said in the filing.

“We expect to use the net proceeds to us from the sale of the common stock offered in this offering for general corporate purposes, including working capital. We may also use a portion of the net proceeds to acquire complementary businesses, products, services, or technologies. However, we do not have any agreements or commitments for any acquisitions at this time,” the company continued.

“We have not determined the amounts we plan to spend on the areas listed above or the timing of these expenditures. As a result, our management will have broad discretion in the application of the net proceeds of this offering. Pending the application of the net proceeds, we expect to invest the net proceeds of this offering in investment-grade, interest-bearing securities.”

The company also announced on Monday it was teaming with Galves Market Data to pilot a trade-in platform.

TrueCar signed a memorandum of understanding to partner with R. Hollenshead Auto Sales and Galves Market Data (a Hollenshead subsidiary) for a six-month pilot of TrueCar Trade.

The platform, powered by Galves Accu-Trade, aims to provide “completely transparent valuation process designed to revolutionize appraisals and valuations for dealers and consumers,” TrueCar said in a news release.

The core Galves Trade Appraiser valuation engine will be available nationwide, with the consumer-facing TrueCar Trade platform starting its pilot with dealers and consumers in a handful of Northeastern markets.

Consumer pilot markets for TrueCar Trade will include eastern Pennsylvania, northern New Jersey, lower New York, Connecticut, Rhode Island and Massachusetts.

Product presentations and demonstrations are planned for the second quarter, with the pilot planned for the third quarter.