Online used-car retailer Vroom raises IPO price range

Online used-car retailer 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.

It had earlier expected the offering to be priced between $15 and $17 per share.

Markets surged Friday after a better-than-expected jobless report from the U.S. Department of Labor.