Latham, Skadden Steer Car Seller Vroom's Upsized $468M IPO

Law360 (June 9, 2020, 5:41 PM EDT) -- Online used-car seller Vroom Inc. went public Tuesday following an upsized $468 million initial public offering steered by Latham & Watkins LLP and underwriters counsel Skadden Arps Slate Meagher & Flom LLP, becoming the latest company to join a resurgent IPO market.

New York-based Vroom sold 21.25 million shares priced at $22 each late on Monday, raising $467.5 million. The deal ended up being much larger than Vroom's original plans, which called for offering 18.8 million shares priced between $15 and $17, raising $300 million at midpoint. Shares of Vroom began trading Tuesday on the Nasdaq under symbol "VRM" and more...

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