# EDGAR Filing Document

**Accession Number:** 0001655183
**File Stem:** 0001104659-26-005484
**Filing Date:** 2026-1
**Character Count:** 56834
**Document Hash:** 1fbafa189f46365c8db6a1aa4c58636a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-005484.hdr.sgml**: 20260121

**ACCESSION NUMBER**: 0001104659-26-005484

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260121

**DATE AS OF CHANGE**: 20260121

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vroom, Inc.
- **CENTRAL INDEX KEY:** 0001580864
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 901112566
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91568
- **FILM NUMBER:** 26549211

**BUSINESS ADDRESS:**
- **STREET 1:** 3600 W SAM HOUSTON PKWY S, FLOOR 4
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77042
- **BUSINESS PHONE:** 646-979-4746

**MAIL ADDRESS:**
- **STREET 1:** 3600 W SAM HOUSTON PKWY S, FLOOR 4
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77042

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AutoAmerica, Inc.
- **DATE OF NAME CHANGE:** 20130705
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mudrick Capital Management, L.P.
- **CENTRAL INDEX KEY:** 0001655183

**ORGANIZATION NAME:**
- **EIN:** 270367034
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 527 MADISON AVENUE, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (646) 747 9500

**MAIL ADDRESS:**
- **STREET 1:** 527 MADISON AVENUE, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

## Exhibit 99.1

**Exhibit 1**

VROOM INC.

4700 Mercantile Drive

Fort Worth, TX 76137

January 16, 2026

**SPE Holdings 2026-1**

c/o UMB Delaware Inc.

405 Silverside Road, Suite 101

Wilmington, Delaware 19809

<u>RE:</u> <u>Vroom Automotive, LLC – Section 382 Ownership Changes</u>

Ladies and Gentlemen:

Reference is hereby made to that certain (a) Preferred Unit Purchase Agreement (as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms therewith, the "***Purchase Agreement***"), dated as of the date hereof, by and among Vroom Automotive, LLC, a Delaware limited liability company (the "***Company***"), SPE Holdings 2026-1, a Delaware statutory trust (the "***Purchaser***"), and solely for the purposes set forth therein, Vroom, Inc., a Delaware corporation ("***Vroom Parent***") and (b) the Second Amended and Restated Limited Liability Company Agreement of the Company (as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms therewith, the "***LLCA***"), dated as of the date hereof, by and among the Company, the Purchaser, Vroom Finance Holdings, LLC, a Delaware limited liability company, and Vroom Parent. Capitalized terms used in this letter agreement (the "***Letter Agreement***") and not otherwise defined shall have the meanings ascribed to such terms in the LLCA.

As of the date hereof, and simultaneously with the execution of this Letter Agreement, the Purchaser (collectively and together with its Affiliates, successors and permitted assigns, the "***Investor***"), has executed and entered into the Purchase Agreement and the LLCA in connection with its purchase of Preferred Units of the Company (the "***Purchased Units***").

As consideration for the Investor's purchase of the Purchased Units, and in furtherance of the transactions contemplated by the Purchase Agreement and the LLCA, the Company, the Investor, Vroom Parent and Mudrick Capital Management, L.P., a Delaware limited partnership ("***Mudrick***", and together with the Company, the Investor and Vroom Parent, each, a "***Party***", and collectively, the "***Parties***") desire to enter into this Letter Agreement and, by signing below, each Party hereby acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Section 382 Change</u>. To the extent any 382 Redemption pursuant to Section 8.04 of the LLCA is the subject of (i) any proposal to be voted
on at any meeting of the stockholders of Vroom Parent or (ii) any written consent of the stockholders of Vroom Parent, Mudrick shall
vote (or cause to be voted) all shares of common stock, par value $0.001 per share, of Vroom Parent ("  ***Vroom Parent Common Stock***") beneficially owned by Mudrick or any of its Affiliates in favor of any such proposal or provide (or cause to be
provided) written consent to approve any such matter with respect to all such shares of Vroom Parent Common Stock, as applicable. Vroom
Parent shall provide the Investor with written notice (in accordance with the LLCA) of any transaction that would require or obligate
the Company to effect or consummate a 382 Redemption under Section 8.04 of the LLCA (i) at least thirty (30) days prior to the consummation
of such transaction, and (ii) at least ten (10) Business Days after the entry of any definitive agreement regarding any such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Termination</u>. Other than this <u>Section 2</u>, the rights and obligations under this Letter Agreement
shall terminate and be of no further force or effect upon such time as the Investor and its Affiliates cease to own any Units or any other
Securities of the Company or any successor entity thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Assignment; No Modification; Entire Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The rights and obligations under this Letter Agreement may not be assigned by any Party, directly or indirectly,
by operation of law or otherwise, without the prior written consent of the other parties hereto, and any attempted assignment shall be
null and void and of no force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. This Letter Agreement may not be amended, and no provision hereof may be waived or modified, except by
a written instrument signed by each of the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. This Letter Agreement, the Purchase Agreement and the LLCA (the "  ***Transaction Documents*** ")
constitute the entire agreement and supersedes all prior agreements and understandings, both written and oral, among or between any of
the parties with respect to the subject matter hereof. In the event of any conflict or other inconsistency between this Letter Agreement
and the terms of any Transaction Document, the terms of this Letter Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Confidentiality</u>. This Letter Agreement and the contents hereof shall be treated as confidential
and may not be used, circulated, quoted or otherwise referred to in any document except (i) with the prior written consent of the Parties
or (ii) to the extent required by applicable Law or any regulatory or Governmental Authority. Notwithstanding anything herein to the contrary,
any Party may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transactions
described herein and all materials of any kind (including opinions or other tax analyses) that are provided to such party relating to
such tax treatment and tax structure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Governing Law; Notices; Dispute Resolution</u>. The provisions set forth in Sections 13.01, 13.14 and
13.15 of the LLCA shall apply *mutatis mutandis* to this Letter Agreement as if set forth in full in this <u>Section 2</u>; <u>provided</u>,
that references to the Agreement in the LLCA shall be deemed references to this 382 Letter Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Counterparts</u>. This Letter Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via
facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, *e.g.*,
www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered
and be valid and effective for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Representations and Warranties</u>. Each Party hereby represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the execution, delivery and performance of this Letter Agreement
have been duly and validly authorized by all necessary action and do not contravene, conflict with or result in any violation of, or
default under (with or without notice or lapse of time, or both), any law, regulation, rule, decree, order, judgment or contractual restriction
applicable to or binding on such Party or its assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. all consents, approvals, authorizations, permits of, filings
with and notifications to any Governmental Authority necessary for the due execution, delivery and performance of this Letter Agreement
by such Party have been obtained or made and all conditions thereof have been duly complied with, and no notice to or filing with, any
Governmental Authority is required in connection with the execution, delivery or performance of this Letter Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. this Letter Agreement constitutes a legal, valid and binding
obligation of such Party enforceable against such Party in accordance with its terms, subject to (A) the effects of bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium or other similar laws affecting creditors' rights generally, and (B) general
equitable principles (whether considered in a proceeding in equity or at law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. <u>Concerning the Trustee</u>. It is expressly understood and agreed by the Company, Vroom Parent and
Mudrick that (a) this Letter Agreement is executed and delivered on behalf of the Investor by UMB Bank, N.A., not individually or personally
but solely in its capacity as trustee on behalf of the Investor, in the exercise of the powers and authority conferred and vested in it
under the trust agreement governing the Investor, (b) each of the representations, undertakings and agreements herein made on the part
of the Investor is made and intended not as personal representations, undertakings and agreements by UMB Bank, N.A., but is made and intended
for the purpose of binding only, and is binding only on, the Investor, (c) nothing herein contained shall be construed as creating any
liability on UMB Bank, N.A., individually or personally, to perform any covenant either expressed or implied contained herein, all such
liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d)
UMB Bank, N.A. has made no investigation as to the accuracy or completeness of any representations or warranties made by the Investor
in this Letter Agreement, and (e) under no circumstances shall UMB Bank, N.A. be personally liable for the payment of any indebtedness,
indemnities or expenses (including any arbitration or enforcement related expenses) of the Investor or be liable for the performance,
breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Investor under this Letter Agreement
or any other related documents as to all of which recourse shall be had solely to the assets of the Investor.

*[Signature Page Follows]*

 **IN WITNESS WHEREOF**, the Parties have executed this Letter Agreement as of the date first set forth above.

---

| | | |
|:---|:---|:---|
| **<u> </u>** | **<u>VROOM PARENT</u>** | **<u>VROOM PARENT</u>** |
|  | **VROOM, INC.** | **VROOM, INC.** |
|  | By: | /s/ |
|  |  | Name: |
|  |  | Title: |

---

*[Signature Page to Letter Agreement]*

 **IN WITNESS WHEREOF**, the Parties have executed this Letter Agreement as of the date first set forth above.

---

| | | |
|:---|:---|:---|
| **<u> </u>** | **<u>COMPANY</u>** | **<u>COMPANY</u>** |
|  | **VROOM AUTOMOTIVE, LLC** | **VROOM AUTOMOTIVE, LLC** |
|  | By: | /s/ |
|  |  | Name: |
|  |  | Title: |

---

*[Signature Page to Letter Agreement]*

 **IN WITNESS WHEREOF**, the Parties have executed this Letter Agreement as of the date first set forth above.

---

| | | |
|:---|:---|:---|
| **<u> </u>** | **<u>INVESTOR</u>** | **<u>INVESTOR</u>** |
|  | **SPE Holdings 2026-1** | **SPE Holdings 2026-1** |
|  | By: UMB Bank, N.A., not in its individual capacity but solely as Trustee | By: UMB Bank, N.A., not in its individual capacity but solely as Trustee |
|  | By: | /s/ |
|  |  | Name: |
|  |  | Title: |

---

*[Signature Page to Letter Agreement]*

**IN WITNESS WHEREOF**, the Parties have executed this Letter Agreement as of the date first set forth above.

---

| | | |
|:---|:---|:---|
| **<u> </u>** | **<u>MUDRICK:</u>** | **<u>MUDRICK:</u>** |
|  | **MUDRICK CAPITAL MANAGEMENT, L.P.** | **MUDRICK CAPITAL MANAGEMENT, L.P.** |
|  | By: | /s/ |
|  |  | Name: |
|  |  | Title: |

---

*[Signature Page to Letter Agreement]*

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Vroom, Inc.**

*(Name of Issuer)*

**Common Stock, par value $0.001**

*(Title of Class of Securities)*

**92918V307**

*(CUSIP Number)*

**Jason Mudrick**<br>527 Madison Ave, 6th Floor<br>New York NY 10022<br>646 747-9500

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**01/16/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Capital Management, L.P.** | Name of reporting person<br>**Mudrick Capital Management, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**3967251.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**3967251.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**3967251.00** | Aggregate amount beneficially owned by each reporting person<br>**3967251.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**76.3%** | Percent of class represented by amount in Row (11)<br>**76.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Rows 8, 10 and 11 include 3,967,251 shares of common stock ("Common Stock") of Vroom, Inc. (the "Issuer") directly held by Mudrick Distressed Opportunity Fund Global, L.P., Mudrick Distressed Opportunity Drawdown Fund II, L.P., Mudrick Distressed Opportunity Drawdown Fund II SC, L.P., Mudrick Distressed Opportunity Drawdown Fund III, L.P., Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P., Mudrick Distressed Opportunity SIF Master Fund, L.P., and certain accounts managed by Mudrick Capital Management, L.P. in the aggregate.

Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Capital Management, LLC** | Name of reporting person<br>**Mudrick Capital Management, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**3967251.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**3967251.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**3967251.00** | Aggregate amount beneficially owned by each reporting person<br>**3967251.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**76.3%** | Percent of class represented by amount in Row (11)<br>**76.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Rows 8, 10 and 11 include 3,967,251 shares of Common Stock of the Issuer directly held by Mudrick Distressed Opportunity Fund Global, L.P., Mudrick Distressed Opportunity Drawdown Fund II, L.P., Mudrick Distressed Opportunity Drawdown Fund II SC, L.P., Mudrick Distressed Opportunity Drawdown Fund III, L.P., Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P., Mudrick Distressed Opportunity SIF Master Fund, L.P., and certain accounts managed by Mudrick Capital Management, L.P. in the aggregate.

Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Jason Mudrick** | Name of reporting person<br>**Jason Mudrick** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**3967251.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**3967251.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**3967251.00** | Aggregate amount beneficially owned by each reporting person<br>**3967251.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**76.3%** | Percent of class represented by amount in Row (11)<br>**76.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Rows 8, 10 and 11 include 3,967,251 shares of Common Stock of the Issuer directly held by Mudrick Distressed Opportunity Fund Global, L.P., Mudrick Distressed Opportunity Drawdown Fund II, L.P., Mudrick Distressed Opportunity Drawdown Fund II SC, L.P., Mudrick Distressed Opportunity Drawdown Fund III, L.P., Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P., Mudrick Distressed Opportunity SIF Master Fund, L.P., and certain accounts managed by Mudrick Capital Management, L.P. in the aggregate.

Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity Fund Global, L.P.** | Name of reporting person<br>**Mudrick Distressed Opportunity Fund Global, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1058822.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1058822.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1058822.00** | Aggregate amount beneficially owned by each reporting person<br>**1058822.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**20.4%** | Percent of class represented by amount in Row (11)<br>**20.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick GP, LLC** | Name of reporting person<br>**Mudrick GP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1058822.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1058822.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1058822.00** | Aggregate amount beneficially owned by each reporting person<br>**1058822.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**20.4%** | Percent of class represented by amount in Row (11)<br>**20.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Rows 8, 10 and 11 reflect beneficial ownership as the general partner of Mudrick Distressed Opportunity Fund Global, L.P.

Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund II, L.P.** | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund II, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**725385.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**725385.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**725385.00** | Aggregate amount beneficially owned by each reporting person<br>**725385.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**14.0%** | Percent of class represented by amount in Row (11)<br>**14.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund II SC, L.P.** | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund II SC, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**67695.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**67695.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**67695.00** | Aggregate amount beneficially owned by each reporting person<br>**67695.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**1.3%** | Percent of class represented by amount in Row (11)<br>**1.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund II GP, LLC** | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund II GP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**793080.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**793080.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**793080.00** | Aggregate amount beneficially owned by each reporting person<br>**793080.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**15.3%** | Percent of class represented by amount in Row (11)<br>**15.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Rows 8, 10 and 11 reflect beneficial ownership as the general partner of Mudrick Distressed Opportunity Drawdown Fund II, L.P. and Mudrick Distressed Opportunity Drawdown Fund II SC, L.P.

Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund III, L.P.** | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund III, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**44746.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**44746.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**44746.00** | Aggregate amount beneficially owned by each reporting person<br>**44746.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.9%** | Percent of class represented by amount in Row (11)<br>**0.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund III GP, LLC** | Name of reporting person<br>**Mudrick Distressed Opportunity Drawdown Fund III GP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**44746.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**44746.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**44746.00** | Aggregate amount beneficially owned by each reporting person<br>**44746.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.9%** | Percent of class represented by amount in Row (11)<br>**0.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Rows 8, 10 and 11 reflect beneficial ownership as the general partner of Mudrick Distressed Opportunity Drawdown Fund III, L.P.

Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P.** | Name of reporting person<br>**Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**200657.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**200657.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**200657.00** | Aggregate amount beneficially owned by each reporting person<br>**200657.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.9%** | Percent of class represented by amount in Row (11)<br>**3.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity 2020 Dislocation Fund GP, LLC** | Name of reporting person<br>**Mudrick Distressed Opportunity 2020 Dislocation Fund GP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**200657.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**200657.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**200657.00** | Aggregate amount beneficially owned by each reporting person<br>**200657.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.9%** | Percent of class represented by amount in Row (11)<br>**3.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Rows 8, 10 and 11 reflect beneficial ownership as the general partner of Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P.

Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity SIF Master Fund, L.P.** | Name of reporting person<br>**Mudrick Distressed Opportunity SIF Master Fund, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**182936.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**182936.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**182936.00** | Aggregate amount beneficially owned by each reporting person<br>**182936.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.5%** | Percent of class represented by amount in Row (11)<br>**3.5%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

| **CUSIP No.** | **92918V307** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mudrick Distressed Opportunity SIF GP, LLC** | Name of reporting person<br>**Mudrick Distressed Opportunity SIF GP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**182936.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**182936.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**182936.00** | Aggregate amount beneficially owned by each reporting person<br>**182936.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.5%** | Percent of class represented by amount in Row (11)<br>**3.5%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Rows 8, 10 and 11 reflect beneficial ownership as the general partner of Mudrick Distressed Opportunity SIF Master Fund, L.P.

Row 13 is based on 5,199,620 shares of Common Stock of the Issuer outstanding as of November 6, 2025, as set forth in the Form 10-Q filed by the Issuer with the Commission on November 10, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.001

**(b) Name of Issuer:**
Vroom, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
4700 Mercantile Dr., Fort Worth, TX, 76137

This Amendment No. 2 ("Amendment No. 2") amends the statement on Schedule 13D originally filed by the Reporting Persons on January 22, 2025, and relates to the common stock, par value $0.0001 per share ("Common Stock"), of Vroom, Inc. (the "Issuer"). Except as specifically provided herein, this Amendment No. 2 does not modify any of the information previously reported in the Schedule 13D. Unless otherwise indicated, each capitalized term used but not defined in this Amendment No. 2 shall have the meaning assigned to such term in the Schedule 13D.

**Item 4. Purpose of Transaction**

This Item 4 of the Schedule 13D is amended and supplemented as follows:

The information set forth in Item 6 of this Amendment No. 2 is incorporated by reference into this Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5(a) of the Schedule 13D is hereby amended and supplemented as follows:

The responses set forth in rows 7 through 13 of the cover pages to this Schedule 13D are incorporated by reference into this Item 5. By virtue of the relationships described herein, the Reporting Persons may be deemed to constitute a "group" within the meaning of Rule 13d-5 under the Exchange Act. The filing of this Schedule 13D shall not be construed as an admission that the Reporting Persons beneficially own those securities held by another member of such group. In addition, each Reporting Person expressly disclaims beneficial ownership of any securities reported herein except to the extent such Reporting Person actually exercises voting or dispositive power with respect to such securities.

**(b)**
Item 5(b) of the Schedule 13D is hereby amended and supplemented as follows:

The responses set forth in rows 7 through 13 of the cover pages to this Schedule 13D are incorporated by reference into this Item 5. By virtue of the relationships described herein, the Reporting Persons may be deemed to constitute a "group" within the meaning of Rule 13d-5 under the Exchange Act. The filing of this Schedule 13D shall not be construed as an admission that the Reporting Persons beneficially own those securities held by another member of such group. In addition, each Reporting Person expressly disclaims beneficial ownership of any securities reported herein except to the extent such Reporting Person actually exercises voting or dispositive power with respect to such securities.

**(c)**
Item 5(c) of the Schedule 13D is hereby amended and supplemented as follows:

Except as set forth herein, the Reporting Persons have not effected any transactions in the Common Stock of the Issuer during the past 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of the Schedule 13D is hereby amended and supplemented as follows:

As disclosed by the Issuer on January 21, 2026 in a Form 8-K filed with the Commission, on January 16, 2026, Vroom Automotive LLC, a subsidiary of the Issuer ("Vroom Automotive"), amended and restated its limited liability company agreement (the "Vroom Automotive LLCA") and issued Vroom Automotive Preferred Units (as defined in therein) to SPE HOLDINGS 2026-1, a Delaware statutory trust ("SPE Holdings").  In connection with the issuance of the Vroom Automotive Preferred Units, the Issuer, Vroom Automotive and SPE Holdings entered into a letter agreement with Mudrick Capital Management, L.P. ("MCM") pursuant to which MCM agreed to vote (or cause to be voted) all shares of Common Stock beneficially owned by MCM in favor of any proposal to be voted upon at a meeting of Vroom stockholders or in writing relating to the redemption of the Vroom Automotive Preferred Units held by SPE Holdings in accordance with the terms of the Vroom Automotive LLCA. The description of the letter agreement is qualified in its entirety by reference to the full text of the agreement, which is attached to this Amendment No. 2 as Exhibit 1.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Capital Management, L.P.

**Signature:** By: Mudrick Capital Management, LLC, its general partner /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Capital Management, LLC

**Signature:** /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Jason Mudrick

**Signature:** /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity Fund Global, L.P.

**Signature:** By: Mudrick GP, LLC, its general partner /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick GP, LLC

**Signature:** /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity Drawdown Fund II, L.P.

**Signature:** By: Mudrick Distressed Opportunity Drawdown Fund II GP, LLC, its general partner /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity Drawdown Fund II SC, L.P.

**Signature:** By: Mudrick Distressed Opportunity Drawdown Fund II GP, LLC, its general partner /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity Drawdown Fund II GP, LLC

**Signature:** /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity Drawdown Fund III, L.P.

**Signature:** By: Mudrick Distressed Opportunity Drawdown Fund III GP, LLC, its general partner /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity Drawdown Fund III GP, LLC

**Signature:** /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P.

**Signature:** By: Mudrick Distressed Opportunity 2020 Dislocation Fund GP, LLC, its general partner /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity 2020 Dislocation Fund GP, LLC

**Signature:** /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity SIF Master Fund, L.P.

**Signature:** By: Mudrick Distressed Opportunity SIF GP, LLC, its general partner /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mudrick Distressed Opportunity SIF GP, LLC

**Signature:** /s/ Jason Mudrick

**Name/Title:** Jason Mudrick/Sole Member

**Date:** 01/21/2026