Vroom unit sale raises $20 million in private placement to SPE Holdings trust
VRM•Vroom Automotive sold 20,000 newly created preferred units to SPE Holdings 2026-1 in a private placement that raised $20 million in gross proceeds. The proceeds will repay certain obligations, with remaining funds earmarked to buy residual interests in asset-backed securitization trusts.
1. Preferred unit sale
Vroom Automotive sold the units on Sept. 30, 2026. The sale comprised 16,000 nonconvertible Series A1 preferred units and 4,000 Series B1 preferred units, which holders may convert into common units.
2. Distribution terms
The preferred units carry quarterly preferential distributions that reset to the 90-day average SOFR plus 8.50% for Series A1 or 9.25% for Series B1.
