Financing ·
Vroom increases $60M senior secured delayed draw convertible notes due 2032
VRMVroom, Inc.
Vroom, Inc. entered into a First Amendment to its Exchange and Subscription Agreement on October 13, 2026, increasing the aggregate commitments for its Senior Secured Delayed Draw Convertible Notes due 2032 from $50.0 million to $60.0 million. The additional capital was provided by Mudrick Capital Management, L.P., which is the controlling stockholder, and Annox Capital, LLC, controlled by an independent board director. All other material terms of the agreement remain unchanged. Concurrently, a wholly owned subsidiary completed an asset-backed securitization transaction on October 15, 2026, selling approximately $292 million in subprime auto retail installment contracts to a special purpose trust that issued $234.2 million in asset-backed notes across five classes with interest rates ranging from 5.09% to 9.59%. Vroom operates as an online retailer of used vehicles and related services.