Vroom Automotive raises $20M via preferred units at SOFR+8.50-9.25%; funds ABS residual purchases

Vroom, Inc.

Vroom Automotive, LLC issued 16,000 Series A1 and 4,000 Series B1 preferred units at $1,000/unit to SPE Holdings 2026-1 for $20,000,000 gross on September 30, 2026.
Units pay quarterly distributions equal to liquidation preference times 90-day average SOFR plus 8.50% (Series A1) or 9.25% (Series B1), resetting each distribution date.
Series B1 units are convertible into Vroom Automotive common units at SPE Holdings' option at any time; Series A1 units are not convertible.
Proceeds plus a UACC loan prepayment will repay certain obligations and buy residual interests in United Auto Credit Securitization Trusts 2024-1 and 2026-1.
Pre-closing capitalization: 39,229 common units, 15,000 Series A and 7,500 Series B preferred; an origination fee was paid to the purchaser, amount redacted.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.