Vroom (VRM) Completes Recapitalization
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Vroom Completes Recapitalization
January 14, 2025 4:15 PM UTCPositions the Company for Long-Term Growth
NEW YORK--(BUSINESS WIRE)-- Vroom, Inc., a leading automotive finance company and a data, AI-powered analytics and digital services platform supporting the automotive industry, today announced that as of January 14, 2025, it has successfully completed its recapitalization of unsecured convertible senior notes and emerged from the prepackaged Chapter 11 case it voluntarily filed in the U.S. Bankruptcy Court for the Southern District of Texas.
Vroom emerges without any long-term debt at Vroom, Inc., while its subsidiary, UACC, will continue to be obligated to debt related to asset-backed... More