Vroom Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
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Item 1.01 Entry into a Material Definitive Agreement.
Warehouse Credit Facility Amendment
On March 28, 2025, Vroom, Inc.’s (the “Company’s”) wholly-owned subsidiaries United Auto Credit Corporation (“UACC”) and VFS Near Prime Trust I (the “Trust”) entered into an amendment and restatement (the “Amendment”) to that certain revolving credit agreement (the “Warehouse Credit Facility”), dated as of November 18, 2022, by and among UACC, as servicer and custodian, the Trust, as borrower, Fifth Third Bank, N.A., as administrative agent, Computershare Trust Company, N.A., as paying agent, and the lender parties thereto. The Amendment, among other changes and subject to its terms and conditions, (i) renewed the Warehouse Credit Facility and extended the maturity date to April 2027, and (ii) reduced the aggregate borrowing capacity from $225 million to $200 million. All other material terms of the Warehouse Credit Facility remain unchanged.
Pursuant to the Amendment, the funding termination date of the Warehouse Credit Facility is April 12, 2027, or earlier upon the occurrence of defined termination events. The amounts outstanding could become due at an earlier date, if any of certain defined events of default were to occur. The funding termination date may be extended past April 12, 2027, upon satisfaction of the conditions in Section 2.04 of the Warehouse Credit Facility.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information provided under Item 1.01 is hereby incorporated by reference into this Item 2.03.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: April 2, 2025 |
VROOM, INC. |
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By: |
/s/ Thomas H. Shortt |
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Name: Thomas H. Shortt |
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Title: Chief Executive Officer |
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