NEW YORK -

After announcing its plans to go public last month, online auto retailer Vroom said Tuesday it has launched the initial public offering of 18.75 million shares of its common stock.

Vroom said the expected price for the shares is between $15 and $17 per share.

It is expected that underwriters will have 30 days to buy as much as 2,812,500 shares of the stock at the IPO price in order to cover over-allotments, Vroom said.

The stock is expected to be listed on the Nasdaq Global Market with the “VRM” stock ticker symbol.

The joint lead book-running managers and representing the proposed offering’s underwriters are Goldman Sachs & Co. LLC, BofA Securities, Allen & Company LLC and Wells Fargo Securities.

The offering’s co-managers are Stifel, William Blair, Baird, JMP Securities and Wedbush Securities.

The company said its in news release:

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering may be obtained from any of the following sources:

  • Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: prospectus-ny@ny.email.gs.com;
  • BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com;
  • Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, via telephone: (212) 339-2696, or via email: Dweidlein@allenco.com; or
  • Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or email a request to cmclientsupport@wellsfargo.com.

Vroom has filed the registration statement on Form S-1, but it is not yet effective.

“These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective,” the company said in the release.