secwatch.observer — SEC 8-K summary
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Issuer:     Vroom, Inc. (VRM)
CIK:        0001580864
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0000950170-24-053606
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Vroom subsidiary UACC closes $315.8M asset-backed note securitization on $380M subprime auto loans
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- UACC sold ~$380M of subprime motor vehicle contracts to Trust; issued $315.8M in ABS notes across 5 classes.
- Class A ($139.3M at 6.17%) to Class E ($39.5M at 10.45%) notes issued; Class E retained for risk retention.
- UACC will service receivables for 3.25% annual fee; 28% of loans originated by affiliated dealer Vroom Automotive.
- Notes are obligations of Trust only; UACC has option to buy Trust estate when outstanding balance ≤10% of initial.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580864/000095017024053606/0000950170-24-053606-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580864/000095017024053606/vrm-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-053606

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer