Vroom files prepackaged Chapter 11; noteholders to get 92.94% of new equity, trade creditors paid in full

Vroom, Inc.

Filed Chapter 11 prepackaged on Nov 13, 2024; RSA with ~98% of noteholders and ~6% of equity holders.
Plan eliminates ~$290.5M in funded debt; trade and other non-funded claims paid in full in ordinary course.
Noteholders to receive 92.94% of new common stock; existing equity holders to receive 7.06%, subject to dilution.
Voting deadline Dec 30, 2024; $291.3M in Notes accelerated but stayed by bankruptcy.

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