Vroom, Inc. (Vroom), the online automotive retailer, has announced the pricing of its initial public offering of 21,250,000 shares of its common stock at a price of $22 per share. 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. The shares are expected to begin trading on the Nasdaq Global Select Market on June 9, 2020 under the ticker symbol “VRM.” The offering is expected to close on June 11, 2020, subject to customary closing conditions.
Latham & Watkins LLP represented Vroom in the offering with a corporate team led by New York partners Marc Jaffe, Ian Schuman, and Courtenay Myers Lima, with associates John Slater, Katie Lovejoy, Andrew Weitzel, and Matt Schlanger. Advice was also provided on benefits & compensation matters by New York partner Bradd Williamson, with associates Megan Alessi and Brian DeShannon; and on tax matters by New York partner Lisa Watts and Chicago partner Rene de Vera.