Brief: Vroom Says Rocket Delivered Letter Containing Notice Of Its Intent Not To Renew Agreement

Vroom

21/09/2022 22:44

Sept 21 (Reuters) - Vroom Inc  VRM.O :
    * VROOM - ON SEPT 1, ROCKET DELIVERED LETTER CONTAINING
NOTICE OF
ITS INTENT NOT TO RENEW AGREEMENT
    * VROOM INC-  IN THE LETTER, ROCKET OFFERED TO CONTINUE TO
PROVIDE
TRANSITION SERVICES UNTIL JUNE 30, 2023
    * VROOM - FOLLOWING MEETING, ROCKET REDUCED ITS STAFF
DEDICATED TO
CO'S SALES OPERATIONS
    * VROOM INC-  COMPANY AND ROCKET ARE CURRENTLY ENGAGED IN
DISCUSSIONS REGARDING ANY DURATION OF A TRANSITION PERIOD BEYOND
THE CURRENT AGREEMENT
    * VROOM - CO AND ROCKET ARE CURRENTLY ENGAGED IN DISCUSSIONS
REGARDING ANY DURATION OF A TRANSITION PERIOD BEYOND THE CURRENT
AGREEMENT
    * VROOM INC- TRANSITION AWAY FROM ROCKET IS HAVING A
SHORT-TERM
IMPACT ON THE COMPANY’S SALES
    * VROOM - TRANSITION AWAY FROM ROCKET NOT EXPECTED TO HAVE
LONG-TERM IMPACT ON CO'S SALES VOLUME, FINANCIAL CONDITION &
RESULTS OF OPERATIONS


Further company coverage:  VRM.O 

 ((Reuters.Briefs@thomsonreuters.com;))