(Reuters) – Online used car seller Vroom Inc on Friday increased the target range for its U.S. initial public offering, looking to raise up to $375 million as the IPO market gathers steam after the COVID-19 pandemic put several debuts on hold.
The company is offering about 18.8 million shares at a price range of $18 to $20 in the IPO and is expecting a valuation of $2.25 billion at the top end of the range, according to a filing. (bit.ly/374ah6i)
It had earlier expected the offering to be priced between $15 and $17 per share.
Reporting by Abhishek Manikandan in Bengaluru; Editing by Shounak Dasgupta
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