One of our top 10 initial public offerings (IPOs) to watch in 2014 was TrueCar Inc., which has filed with the U.S. Securities and Exchange Commission (SEC) to sell 7.775 million shares in an IPO tentatively scheduled to begin trading next Friday. The expected price range on the shares is $12 to $14.

Joint managers for the offering are Goldman Sachs, J.P. Morgan and RBC Capital Markets. The underwriters have an option on an additional 1.17 million shares.

TrueCar operates on online platform for sales of new cars from its network of more than 7,700 certified dealers. The company estimated that its platform accounted for 3.2% of all new car purchases in the United States during the first quarter of this year.

In an unusual move, the company’s founder and CEO, Scott Painter, has indicated a non-binding interest in acquiring up to $1.5 million in TrueCar’s common stock at the IPO price as part of the offering. Painter could still change his mind, or the underwriters could reject his offer to buy.

TrueCar said it estimates net proceeds of $103.1 million at the midpoint of the expected range, if the underwriters exercise their option. The company said that the purpose of the IPO is to increase its financial flexibility, improve its brand awareness, create a public market for its common stock and facilitate future access to the public capital markets. TrueCar plans to use the proceeds for general corporate purposes, including working capital, operating expenses and capital expenditures.

Shares are expected to price on Thursday and begin trading next Friday on the Nasdaq under the ticker symbol TRUE.

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