Vroom (VRM) IPO Opens 83% Higher

Today's IPO for Vroom (NASDAQ: VRM) opened or trading at $40.25 after pricing 21,250,000 shares at $22.

Vroom has granted the underwriters a 30-day option to purchase up to an additional 3,187,500 shares of its common stock at the initial public offering price to cover over-allotments.

Goldman Sachs & Co. LLC, BofA Securities, Allen & Company LLC and Wells Fargo Securities are serving as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Stifel, William Blair, Baird, JMP Securities and Wedbush Securities are serving as co-managers for the offering.

Vroom is an innovative, end-to-end ecommerce platform designed to offer a better way to buy and a better way to sell used vehicles. The company's scalable, data-driven technology brings all phases of the vehicle buying and selling process to consumers wherever they are and offers an extensive selection of vehicles, transparent pricing, competitive financing, and contact-free, at-home pick-up and delivery.

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