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Vroom ( (VRMMQ) ) just unveiled an update.
Vroom, Inc. successfully completed its recapitalization and emerged from a prepackaged Chapter 11 case as of January 14, 2025, converting its unsecured convertible senior notes entirely into equity. The company now has approximately 5.1 million shares outstanding after a reverse stock split and plans to execute its Long-Term Strategic Plan without long-term debt at the parent company level. Vroom’s emergence from Chapter 11 included the issuance of warrants for common stock and full payment to trade creditors. The restructuring positions Vroom for future growth, focusing on its automotive finance operations while its subsidiary, UACC, remains obligated to certain debts.
More about Vroom
Vroom, Inc. is a leading automotive finance company that operates United Auto Credit Corporation, a prominent automotive lender serving the independent and franchise dealer market nationwide. It also owns CarStory, a leader in AI-powered analytics and digital services for automotive retail. Vroom previously operated an ecommerce platform for buying and selling used vehicles but discontinued this service as part of its Value Maximization Plan.
YTD Price Performance: 16.50%
Average Trading Volume: 58,486
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $10.93M
See more insights into VRMMQ stock on TipRanks’ Stock Analysis page.
