Vroom, an online used car dealer operating throughout the US, raised $468 million by offering 21.3 million shares at $22, above the range of $18 to $20. The company originally filed to offer 18.8 million shares at a range of $15 to $17, before raising the range on Friday. At pricing, Vroom commands a fully diluted market cap of $2.8 billion, 41% higher than originally anticipated.
Vroom plans to list on the Nasdaq under the symbol VRM. Goldman Sachs, BofA Securities, Allen & Company and Wells Fargo Securities acted as lead managers on the deal.
