Vroom Inc.

NASDAQ:VRM   12:07:08 PM EDT
19.25
-0.28 (-1.43%)
Officer Changes, Mergers / Acquisitions

Vroom To Acquire United Auto Credit Corporation

Published: 10/12/2021 10:30 GMT
Vroom Inc. (VRM) - :online Automotive Retailer Vroom to Acquire United Auto Credit Corporation.
Vroom - Jim Vagim, President and CEO of Uacc, and Ravi Gandhi, CFO of Uacc, Will Remain in Their Positions Following Deal.
Vroom - Deal for $300 Million in Cash, Subject to Adjustment Based Upon Uacc’s Closing Book Value.
Vroom - Uacc Will Become an Indirect Wholly-owned Subsidiary of Vroom and Will Continue to Operate Under Uacc Name.
Vroom - Will Finance the Purchase Price Through Cash on Hand.
Vroom - Deal is Expected to Immediately Be Accretive to Vroom’s Earnings.