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Vroom, Inc. (NASDAQ:VRM) announced an amendment to its existing credit agreement, raising the maximum facility amount from $25 million to $35 million. The amendment, entered into Thursday by Vroom, United Auto Credit Corporation, and Darkwater Funding LLC, modifies the original loan and security agreement dated March 8, 2025. Mudrick Capital Management, L.P. serves as the administrative agent for the facility. The company, currently valued at $136 million, maintains a strong liquidity position with a current ratio of 3.92, though InvestingPro data indicates rapid cash utilization.
According to the company’s statement in a U.S. Securities and Exchange Commission filing, the increase in the facility amount is effective as of September 30, 2025. The amendment also updates lender commitment amounts in the agreement’s schedules. Darkwater Funding LLC reaffirmed its security interest in collateral securing the obligations under the credit agreement.
All other terms and conditions of the credit agreement, including collateral, covenants, maturity, and interest provisions, remain unchanged except as specifically amended.
As of September 30, 2025, Vroom and its co-borrowers had not drawn any funds against the increased facility.
This information is based on a press release statement included in Vroom’s recent SEC filing.
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