Vroom issues up to $10.5M senior secured notes to Board Chair Mylod at SOFR+7.5%

Vroom, Inc.

Initial draw of $5M, maximum aggregate principal commitment $10.5M.
Notes bear interest at Term SOFR (3-month) plus 7.50%, paid quarterly.
Matures November 25, 2026; prepayable at any time without penalty.
Proceeds to be used for working capital and general corporate purposes.
Investor is Robert J. Mylod, Jr., Independent Executive Chair of Vroom's board.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Vroom, Inc. incurred senior notes of $10,500,000 with Robert J. Mylod, Jr. at Term SOFR (three-month tenor) plus 7.50% maturing November 25, 2026.

Instrument: senior notes
Principal: $10,500,000
Counterparty: Robert J. Mylod, Jr.
Rate: Term SOFR (three-month tenor) plus 7.50%
Maturity: November 25, 2026
Event: incurrence

Exact text from the filing

the Company agreed to issue Senior Secured Delayed Draw Notes due 2026 (the “Notes”) in a maximum aggregate principal commitment amount of $10,500,000

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Vroom, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-115505

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