Vroom, Inc.

Form Type: 8-K

Filing Date: 2025-01-02

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000119312525000195

Comments: On January 2, 2025, Vroom, Inc. reported that it commenced a Prepackaged Chapter 11 Case under the U.S. Bankruptcy Code on November 13, 2024. This filing was undertaken voluntarily to restructure the company and facilitate compliance with Nasdaq listing requirements after receiving a notice of delisting on November 21, 2024. The company plans to amend its Certificate of Incorporation, specifically regarding the conversion of its common stock at a 1-for-5 ratio, intended to adjust the stock price and share count to meet minimum requirements for continued listing on Nasdaq. No stockholder approval is needed for the Charter Amendment, and fractional shares will be rounded to the nearest whole share. The adjustment will also affect existing equity plans and warrants. The restructuring aims to maintain liquidity for shareholders and ensure compliance with Nasdaq's criteria post-bankruptcy emergence.

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