Mudrick Capital Management, L.P. reported purchase transactions in this Form 4 filing. Vroom, Inc. reported that Mudrick Capital Management, L.P., Mudrick Distressed Opportunity 2020 Dislocation Fund GP, LLC, Mudrick Distressed Opportunity Fund Global, LP, and Mudrick GP, LLC indirectly acquired Senior Secured Delayed Draw Convertible Notes due 2032 on October 14, 2026. The notes may convert into 782,692 common shares at a $10.86 conversion price, subject to adjustment and the note terms. No Rule 10b5-1 plan is reported.
Vroom, Inc. (VRM) reports that joint reporting persons affiliated with Mudrick Capital Management, L.P. purchased Senior Secured Delayed Draw Convertible Notes due 2032 from Vroom on October 14, 2026. The notes may be converted, subject to adjustment and other terms, into 782,692 common shares at a conversion price of $10.8600 per share.
The reporting persons include Jason Mudrick, sole member of several related general partners, and Matthew Pietroforte, a Vroom director and Mudrick managing director and senior analyst. They disclaim beneficial ownership except to the extent of their pecuniary interests.
Vroom, Inc. (VRM), through wholly owned subsidiary United Auto Credit Corporation (UACC), closed an asset-backed securitization on October 15, 2026. UACC sold approximately $292,059,710 of subprime motor vehicle retail installment sales contracts to United Auto Credit Financing LLC, which then sold them to United Auto Credit Securitization Trust 2026-2. The trust issued $234,232,000 in notes across five fixed-rate classes and pledged the contracts as security. The notes are obligations solely of the trust, not UACC or the depositor.
A separate amendment raised aggregate commitments for Vroom’s Senior Secured Delayed Draw Convertible Notes due 2032 from $50.0 million to $60.0 million. Mudrick Capital Management, L.P., Vroom’s controlling stockholder, and Annox Capital, LLC, controlled by Independent Executive Chair Robert J. Mylod, Jr., provided the increased commitments. Mudrick Managing Director Matthew J. Pietroforte serves on Vroom’s board.
Vroom, Inc. is the issuer in an amended ownership report stating that Mudrick Capital Management, L.P., Mudrick Capital Management, LLC and Jason Mudrick each report shared voting and dispositive power over 3,982,846 common shares, or 76.1% of the class. That percentage is based on 5,234,356 Vroom shares outstanding as of August 3, 2026. The reported shares are held directly by specified Mudrick funds and certain managed accounts.
Vroom Automotive, an issuer subsidiary, amended and restated its limited liability company agreement and issued preferred units to SPE Holdings 2026-1. Mudrick Capital Management, L.P. agreed to vote, or cause to be voted, all shares it beneficially owns in favor of proposals concerning redemption of those units under the agreement. Certain reporting persons acquired from Vroom on August 13, 2026, the remaining approximately $6.5 million in Senior Secured Delayed Draw Convertible Notes. The notes become convertible on April 1, 2032, and in connection with specified corporate events. The reporting persons may be deemed a group and disclaim beneficial ownership of securities reported for others except where they exercise voting or dispositive power.
Vroom, Inc.’s subsidiary Vroom Automotive, LLC issued 16,000 newly issued Series A1 preferred units and 4,000 newly issued Series B1 preferred units to SPE Holdings 2026-1 for $20,000,000 in aggregate gross proceeds on September 30, 2026. A purchase agreement and an amended LLC agreement set the units’ terms.
Both series are entitled to quarterly preferential distributions calculated using each series’ liquidation preference and a variable rate that resets on each quarterly distribution date. The rate is the 90-day average SOFR plus 8.50% for Series A1 and 9.25% for Series B1. Series B1 is convertible into Vroom Automotive common units at SPE Holdings’ option at any time; Series A1 is not convertible. Vroom Automotive expects to use the proceeds to repay certain obligations and purchase residual interests in certain asset-backed securitization trusts.
Vroom, Inc. (VRM) reports that its wholly owned subsidiaries United Auto Credit Corporation (UACC) and UACC Auto Financing Trust V entered into Amendment No. 11 to the Amended and Restated Warehouse Agreement that governs its Warehouse Credit Facility. The amendment extends the Commitment Termination Date from August 28, 2026 to September 30, 2026. All other material terms of the Warehouse Credit Facility remain unchanged, and Capital One, N.A. continues to act as administrative agent.
Mudrick Capital Management, L.P. reported reported purchase transactions in this Form 4 filing.
Mudrick Capital–affiliated reporting persons disclosed acquiring Senior Secured Delayed Draw Convertible Notes due 2032 of Vroom, Inc. under an Exchange and Subscription Agreement dated May 14, 2026. These Notes are convertible into 570,199 shares of common stock at a conversion price of $11.42 per share, with an earliest exercise date of April 1, 2032 and expiration on June 30, 2032. The underlying shares are held across several Mudrick funds and managed accounts, and the filers disclaim beneficial ownership beyond their pecuniary interests.
Mudrick Capital Management, L.P. reported reported purchase transactions in this Form 4 filing.
Mudrick Capital–affiliated funds and accounts reported acquiring Senior Secured Delayed Draw Convertible Notes due 2032 from Vroom, Inc. under a May 14, 2026 Exchange and Subscription Agreement. These notes, acquired on August 13, 2026, are convertible into up to 570,199 shares of common stock at a conversion price of $11.42 per share, subject to adjustment. The positions are reported as indirect holdings across multiple Mudrick funds and managed accounts, and the reporting persons disclaim beneficial ownership beyond their pecuniary interests.
Vroom, Inc. reported that Chief Executive Officer Thomas H. Shortt received a grant of 205,000 stock options on August 6, 2026. The options have an exercise price of $13.68 per share and expire on August 6, 2036, covering 205,000 shares of common stock. According to the vesting terms, the award will vest in 22 equal installments of 9,221 options from January 16, 2029 through March 28, 2029, plus one installment of 2,138 options on February 26, 2029, subject to the CEO’s continued service. Following this award, Shortt holds 205,000 derivative securities directly.
Vroom, Inc. reported that CFO Jonathan Sandison received a grant of 30,000 stock options to purchase common stock. The options carry an exercise price of $13.68 per share and expire on August 6, 2036. Following this award, Sandison holds 30,000 options directly. The award vests in four tranches during 2029, each contingent on his continued service with Vroom and UACC.