Vroom, Inc. (VRM): Nasdaq/NYSE listing notice — Vroom receives Nasdaq delisting notice; proposes reverse stock split to comply

Vroom, Inc.

Nasdaq notified Vroom on Dec 21, 2023, that its stock closed below $1.00 for 30 consecutive business days.
Vroom has until June 18, 2024, to regain compliance; must trade at $1.00+ for ten consecutive days.
Board seeks stockholder approval for a reverse stock split at a ratio of 1-for-35 to 1-for-80.
Special meeting to vote on reverse split is scheduled for February 5, 2024.
Failure to regain compliance could trigger a fundamental change under Vroom's 0.750% Convertible Notes due 2026.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Vroom, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A), 5810(c)(3)(H)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A), 5810(c)(3)(H)

Exact text from the filing

December 21, 2023, Vroom, Inc. (“Vroom,” the “Company,” “us,” “we” and “our”) received written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock (the “Common Stock”) had closed below the $1.00 per share minimum bid price requirement for continued inclusion on The Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”). The Notice has no immediate effect on the listing of the Common Stock, which continues to trad

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Vroom, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-072647

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