Vroom aims to raise up to $318.8 million in IPO
Online used car seller Vroom Inc filed to go public last month.
Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
Online used car seller Vroom Inc aims to raise up to $318.8 million in its initial public offering, which is expected to be priced in the range of $15 to $17 per share.
The company is offering about 18.8 million shares in the IPO and is expecting a valuation of $1.92 billion at the top end of the range, the company’s filing showed on Monday.
IS IT BETTER TO BUY OR LEASE A CAR
The capital markets have begun to recover after the COVID-19 crisis brought IPOs to a virtual halt over the past two months.
Warner Music Group last week said it was aiming to sell up to $1.82 billion in stock in its U.S. IPO, potentially the largest New York listing so far in 2020.
THE MOST AFFORDABLE CARS IN THE US FOR 2020
Vroom, which filed to go public last month, has reported a more than two-fold rise in sales at its e-commerce business in the first quarter of 2020.