Vroom Announces “At The Market” (ATM) Equity Offering Program
01 Dicembre 2023 - 11:07PM
Business Wire
Vroom, Inc. (Nasdaq: VRM), (“Vroom” or the “Company) a leading
e-commerce platform for buying and selling used vehicles, today
announced it has filed a prospectus supplement with the U.S.
Securities and Exchange Commission (the “SEC”) under which it may
offer and sell from time to time and at its discretion shares of
its common stock having an aggregate offering price of up to $50.0
million pursuant to an “at the market” offering program (the “ATM
Program”). There can be no assurance that the Company will issue
and sell any shares under the ATM Program. The timing of any sales
and the number of shares sold, if any, will depend on a variety of
factors to be determined by the Company.
The shares will be offered pursuant to an equity distribution
agreement between the Company and Virtu Americas LLC, as sales
agent. Sales may be made by any method permitted by law, including
in sales deemed to be “at the market offerings” as defined in Rule
415(a)(4) of the Securities Act of 1933, as amended, in ordinary
brokers’ transactions on the Nasdaq Global Select Market at market
prices prevailing at the time of sale, at prices related to
prevailing market prices or at negotiated prices, in block
transactions, as otherwise agreed with the applicable sales agent,
by means of any other existing trading market for the Company’s
common stock, to or through a market maker other than on an
exchange, or through a combination of any such methods of sale.
Sales may be made at market prices prevailing at the time of the
sale, at prices related to prevailing market prices or at
negotiated prices and, as a result, sales prices may vary.
The prospectus supplement filed today adds to, updates or
otherwise changes information contained in the accompanying
prospectus contained in the Company’s shelf registration statement
on Form S-3 (File No. 333-267361) filed by Vroom with the SEC on
September 9, 2022, and which became effective on September 20,
2022, for the offering of shares. Prospective investors should read
the prospectus in that registration statement and the prospectus
supplement (including the documents incorporated by reference
therein) for more complete information about Vroom and the ATM
Program, including the risks associated with investing in Vroom.
Copies of the prospectus supplement and related prospectus may be
obtained from Virtu Americas LLC, Attn: Virtu Capital Markets, 1633
Broadway, 41st Floor, New York, NY 10019. You may also obtain these
documents free of charge when they are available by visiting EDGAR
on the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will 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. Any offer, solicitation or sale will be made only by
means of the prospectus supplement and the accompanying
prospectus.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including without limitation statements
regarding the ATM Program and the use of proceeds of sales, if any,
under the ATM Program. These statements are based on management’s
current assumptions and are neither promises nor guarantees, but
involve known and unknown risks, uncertainties and other important
factors that may cause the Company’s actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. For factors that could cause actual
results to differ materially from the forward-looking statements in
this press release, please see the risks and uncertainties
identified under the heading “Risk Factors” in the prospectus
supplement for the ATM Program and the Company’s Annual Report on
Form 10-K for the year ended December 31, 2022, as updated by the
Company’s Quarterly reports on Form 10-Q for the quarters ended
March 31, 2023, June 30, 2023 and September 30, 2023, all of which
are available on the Company’s Investor Relations website at
ir.vroom.com and on the SEC website at www.sec.gov. All
forward-looking statements reflect the Company’s beliefs and
assumptions only as of the date of this press release. The Company
undertakes no obligation to update forward-looking statements to
reflect future events or circumstances.
About Vroom (Nasdaq: VRM)
Vroom is an innovative, end-to-end ecommerce platform that
offers 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231201986475/en/
Investor Relations: Vroom Jon Sandison investors@vroom.com
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