StockWatch
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Retail-Auto Dealers and Gas Stations
Loan & DebtJun 3, 2026, 05:02 PM

Vroom Amends Two Warehouse Credit Facilities; Extends One

AI Summary

Vroom, Inc., through its wholly-owned subsidiaries, amended two warehouse credit facilities on May 29, 2026. Amendment No. 28 to Warehouse Credit Facility One extended its Commitment Termination Date from June 2, 2026, to July 2, 2026. Amendment No. 10 to Warehouse Credit Facility Two, effective March 31, 2026, included changes such as a reduced advance rate for certain receivables, a reduced Minimum Tangible Net Worth covenant, and updated definitions for Available Liquidity and undrawn availability under the Mudrick Capital Facility.

Key Highlights

  • Warehouse Credit Facility One Commitment Termination Date extended from June 2, 2026, to July 2, 2026.
  • Warehouse Credit Facility Two advance rate reduced for certain receivables.
  • Warehouse Credit Facility Two Minimum Tangible Net Worth covenant reduced.
  • Warehouse Credit Facility Two added undrawn committed availability under Senior Secured Delayed Draw Convertible Note due 2032 to Available Liquidity.
  • Warehouse Credit Facility Two updated undrawn availability under Mudrick Capital Facility.