VRM

Good Times Roll: Vroom prices upsized IPO above the upwardly revised range at $22

Vroom, an online used car dealer operating throughout the US, raised $468 million by offering 21.3 million shares at $22, above the range of $18 to $20. The company originally filed to offer 18.8 million shares at a range of $15 to $17, before raising the range on Friday. At pricing, Vroom commands a fully diluted market cap of $2.8 billion, 41% higher than originally anticipated.

Vroom plans to list on the Nasdaq under the symbol VRM. Goldman Sachs, BofA Securities, Allen & Company and Wells Fargo Securities acted as lead managers on the deal.

The article Good Times Roll: Vroom prices upsized IPO above the upwardly revised range at $22 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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