secwatch.observer — SEC 8-K summary
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Issuer:     Vroom, Inc. (VRM)
CIK:        0001580864
Form:       8-K
Filed at:   2026-10-15T20:16:53+00:00
Accession:  0001193125-26-422899
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4.1-flash:cloud@v2

Vroom's UACC closes $234.2M subprime auto ABS; convertible note commitments raised to $60M
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- United Auto Credit sold $292.1M of subprime motor vehicle retail installment contracts to United Auto Credit Securitization Trust 2026-2, which issued $234.2M of asset-backed notes.
- Note classes: A $105.0M at 5.09%, B $41.6M at 5.90%, C $26.1M at 6.36%, D $42.2M at 7.37%, E $19.3M at 9.59%; closing date Oct. 15, 2026.
- Depositor retained at least 5% of each note class under Regulation RR; UACC is servicer at a 3.25% annual fee; clean-up call at 10% of initial receivables.
- First Amendment to the May 14, 2026 Exchange and Subscription Agreement raised Senior Secured Delayed Draw Convertible Notes due 2032 commitments from $50.0M to $60.0M.
- New commitments came from controlling stockholder Mudrick Capital and Annox Capital, controlled by Independent Executive Chair Robert J. Mylod Jr.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580864/000119312526422899/0001193125-26-422899-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580864/000119312526422899/vrm-20261013.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-422899

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