Baird served as co-manager on this offering
AboutVroom, Inc. (“Vroom” or the “Company”) (NASDAQ: VRM) recently completed a follow-on offering of 10,800,000 shares (100% primary) at a price of $54.50 per share, generating gross proceeds of approximately $588.6 million. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,620,000 shares of common stock. Vroom expects to use the net proceeds of this offering for general corporate purposes, including advertising and marketing, technology development, working capital, operating expenses and capital expenditures.
Vroom is an innovative, end-to-end eCommerce platform for buying and selling used cars. The Company is transforming the used car industry by offering a better way to buy and a better way to sell used vehicles through a wide selection, great value and quality, transparent pricing and a simple, no pressure transaction. Each element of its business, from inventory procurement to fulfilment and overall ease of the online transaction, has been built for this singular purpose. Vroom is driving enduring change in the industry on a national scale. The Company takes a vertically integrated, asset-light approach that is reinventing all phases of the vehicle buying and selling process, from discovery to delivery and everything in between. Vroom, Inc. is headquartered in New York, New York.
CONTACT US TO LEARN MORE
- September 2020
- Vroom, Inc.
- Technology & Services
- Target Location
- North America
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