UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 2.01. Completion of Acquisition or Disposition of Assets.
On March 29, 2024, Vroom, Inc. (the “Company”) substantially completed the previously announced wind-down of the Company's ecommerce operations and used vehicle dealership business (the "Ecommerce Wind-Down"). The Company ceased transactions through vroom.com, completed transactions for customers who had previously contracted with the Company to purchase or sell a vehicle, halted purchases of additional vehicles, sold substantially all of its used vehicle inventory through wholesale channels, paid off its vehicle floorplan financing facility dated November 4, 2022 with Ally Bank and Ally Financial Inc., and substantially completed a reduction-in-force commensurate with the reduced operations. The commencement of the process of winding down the ecommerce operations and used vehicle dealership business was previously disclosed by the Company in the Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on January 22, 2024 as amended by a Current Report on Form 8-K/A filed with the SEC on March 13, 2024. The unaudited pro forma financial information giving effect to the wind-down of the Company's ecommerce operations and used vehicle dealership business is filed herewith as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(b) Pro Forma Financial Information.
The unaudited pro forma condensed consolidated balance sheet of the Company as of December 31, 2023, and the unaudited pro forma condensed consolidated statement of operations of the Company for the years ended December 31, 2023 and 2022, and the notes related thereto, are filed as Exhibit 99.1 hereto and are incorporated herein by reference. The unaudited pro forma condensed consolidated financial information are based on the Company's historical financial statements after giving effect to the wind-down of the Company's ecommerce operations and used vehicle dealership business. The unaudited pro forma condensed consolidated financial information is provided for informational purposes only and does not purport to represent the Company’s actual financial condition or results of operations had the Ecommerce Wind-Down occurred on the dates indicated nor does it project the Company’s results of operations or financial condition for any future period or date. The Company has prepared the unaudited pro forma financial information based on available information using certain assumptions that it believes are reasonable. As a result, the actual results reported by the Company in periods following the Ecommerce Wind-Down may differ materially from this unaudited pro forma financial information
(d) Exhibits.
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Description |
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99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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VROOM, INC. |
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Date: April 4, 2024 |
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By: |
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/s/ Robert R. Krakowiak |
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Robert R. Krakowiak |
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Chief Financial Officer |