Item 1.01. Entry Into a Material Definitive Agreement.

On October 1, 2020, Vroom, Inc. (the "Company"), its wholly-owned subsidiary Left Gate Property Holding, LLC ("Left Gate" and, together with the Company, the "Borrower") and Ally Bank and Ally Financial Inc. (together, "Ally") amended the Inventory and Financing and Security Agreement dated March 6, 2020 (the "Floor Plan Facility") to extend the maturity date to September 30, 2022. The amendment also reduces the minimum liquidity requirement to 7.5% of the credit line from 10% of the floorplan allowance, reduces the inventory equity covenant to 5% from 10%, eliminates certain other covenants, and requires the Borrower to pay Ally an availability fee if the average unused capacity during the prior calendar quarter was greater than 50% of the floorplan allowance.

Item 7.01 Regulation FD Disclosure.

On October 6, 2020, the Company issued a press release announcing the amendment described above. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information contained in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits.


               Exhibit
                 No.     Description

               99.1        Press Release, dated October 6, 2020  .

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses