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Vroom Announces Launch of Initial Public Offering

NEW YORK–(BUSINESS WIRE)–#GetAVroom–Vroom, Inc. (“Vroom”), the online automotive retailer, today announced that it has commenced the initial public offering of its common stock. Vroom is offering 18,750,000 shares of its common stock. The initial public offering price is expected to be between $15.00 and $17.00 per share. Vroom expects to grant the underwriters a 30-day option to purchase up to an additional 2,812,500 shares of its common stock at the initial public offering price to cover over-allotments. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol “VRM.”

Goldman Sachs & Co. LLC, BofA Securities, Allen & Company LLC and Wells Fargo Securities are serving as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Stifel, William Blair, Baird, JMP Securities and Wedbush Securities are serving as co-managers for the offering.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering may be obtained from any of the following sources:

  • Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: prospectus-ny@ny.email.gs.com;
  • BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com;
  • Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, via telephone: (212) 339-2696, or via email: Dweidlein@allenco.com; or
  • Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or email a request to cmclientsupport@wellsfargo.com.

A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Vroom:

Vroom is an innovative, end-to-end ecommerce platform designed to offer a better way to buy and a better way to sell used vehicles. The company’s scalable, data-driven technology brings all phases of the vehicle buying and selling process to consumers wherever they are and offers an extensive selection of vehicles, transparent pricing, competitive financing, and contact-free, at-home pick-up and delivery.

Contacts

Moxie Communications Group

Alyssa Galella, 562-294-6261

vroom@moxiegrouppr.com

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