Vroom increases convertible note commitments to $60.0 million; ABS trust issues $234.2 million notes
Vroom's subsidiary UACC completed an asset-backed securities deal on October 15, 2026, selling about $292.1 million of subprime auto contracts to a trust that issued $234.2 million of notes. Separately, on October 13, 2026, Vroom amended its convertible note agreement to raise commitments from $50.0 million to $60.0 million, with the added funds provided by insiders Mudrick and Annox.
Key points
- UACC sold about $292,059,710 of subprime motor vehicle retail installment sales contracts to a special purpose subsidiary, which the trust then acquired.
- The trust issued $234,232,000 of asset-backed notes in five classes, with fixed rates from 5.09% (Class A) to 9.59% (Class E); notes are obligations solely of the trust, not UACC or Vroom.
- Convertible note commitments rose from $50.0 million to $60.0 million under the amendment dated October 13, 2026.
- Mudrick, the controlling stockholder, and Annox, which is controlled by Independent Executive Chair Robert J. Mylod, Jr., provided the increased commitments.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 15, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.