Vroom Q3 net loss $37.7M, to restructure $290M notes via prepackaged Chapter 11

Vroom, Inc.

Net loss from continuing operations $37.7M; Adjusted EBITDA $(25.5)M.
Cash and equivalents $51.1M as of Sept 30, 2024.
UACC had $32.9M liquidity available under warehouse credit facilities.
Agreed to restructure $290M unsecured convertible notes into equity via prepackaged Chapter 11.
After restructuring, Vroom Inc. will have no long-term debt; UACC retains ABS and trust preferred obligations.

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