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Wejo Group Limited and Virtuoso Acquisition Corp. announced two financing agreements to support their merger, allowing Wejo to become a publicly listed company. The agreements include a forward purchase with Apollo for up to
Wejo, a leader in connected vehicle data, highlights the significance of the Infrastructure and Jobs Act, which allocates approximately $1 trillion for U.S. infrastructure enhancement. This legislation presents a substantial opportunity for the connected mobility sector, aligning with Wejo's objective to tackle transportation challenges. Wejo's data platform, leveraging 17 billion data points from 11.9 million vehicles, positions it as a key player in supporting efficient roadway usage and infrastructure planning.
Wejo Limited has launched Wejo Studio, a web-based SaaS platform that harnesses connected vehicle data (CVD) to provide valuable insights into traffic and mobility trends. This platform simplifies data analyses for various organizations, enabling smarter decision-making without the complexity of handling large data sets. The initial products include Intersection Performance and Origin/Destination insights. The announcement follows significant interest in CVD, with key strategic investors involved as Wejo prepares for its business combination with Virtuoso Acquisition Corp (NASDAQ: VOSO).
Wejo Limited has launched Wejo Studio, a web-based SaaS platform designed to provide insights from connected vehicle data (CVD). This platform aims to democratize access to mobility trends for various organizations, enhancing decision-making across sectors like transportation, real estate, and logistics. Initial offerings include insights on Intersection Performance and Origin/Destination patterns. The announcement coincides with the pending business combination with Virtuoso Acquisition Corp. (NASDAQ: VOSO), expected to finalize later this year.
Wejo, a leader in connected vehicle data, will participate in Piper Sandler’s Global Technology Conference on September 13 and Citi’s Global Technology Conference on September 14. CEO Richard Barlow and CFO John Maxwell will showcase the company's mission to utilize vehicle data for enhanced mobility. Recently, Wejo announced a merger agreement with Virtuoso Acquisition Corp. (NASDAQ: VOSO), backed by a $100 million PIPE involving major investors like Palantir and General Motors. With over 16 billion data points collected daily from 11 million vehicles, Wejo aims to tap into a projected $600 billion market by 2030.
Virtuoso Acquisition Corp. (NASDAQ: VOSO) has confirmed compliance with Nasdaq Listing Rule 5250(c)(1) after submitting its Form 10-Q for Q1 2021. A letter from Nasdaq, received on June 16, 2021, reaffirmed this compliance. The Company is set to merge with Wejo Limited, a leader in connected vehicle data, with the transaction expected to close later in 2021. This merger represents a significant step for Virtuoso in expanding its business operations and reinforcing its market position.
Virtuoso Acquisition Corp. (NASDAQ: VOSOU) announced it received a notice from Nasdaq due to the late filing of its Form 10-Q for Q1 2021. The delay stemmed from the Company needing to reassess the accounting treatment of outstanding warrants. Nasdaq has allowed a 60-day period to rectify this, with a filing due by July 28, 2021. Failure to comply may lead to suspension or delisting. The Company is working to file the report promptly. Any delisting could lower demand and market prices for its securities, affecting its planned merger with Wejo Limited.
Virtuoso Acquisition Corp. announced that starting March 15, 2021, holders of the 23 million units from its IPO can separately trade Class A common stock and warrants. The traded stock will be listed on Nasdaq under symbols VOSO for Class A common stock and VOSOW for warrants. Units not separated will continue trading under VOSOU. The company, designed for mergers and acquisitions, was offered through an underwritten offering with leading managers being BTIG, LLC and Moelis & Company LLC. Forward-looking statements are included, with caution advised regarding risks outlined in the SEC filings.
Virtuoso Acquisition Corp. successfully closed its initial public offering (IPO) on January 26, 2021, raising $230 million from the sale of 23 million units at $10 each. The IPO included 3 million units from the underwriters' over-allotment. The units, which began trading on January 22 under the symbol 'VOSOU', consist of one share of Class A common stock and one-half of a redeemable warrant. The company aims to focus on mergers in the media industry, particularly in digital marketing sectors. The proceeds are secured in a trust account awaiting business combinations.
Virtuoso Acquisition Corp. announced its initial public offering (IPO) pricing of 20,000,000 units at $10.00 each. Trading on Nasdaq as "VOSOU" begins January 22, 2021. Each unit includes one share of Class A common stock and one-half of a redeemable warrant, with full warrants priced at $11.50 per share. The offering closes on January 26, 2021, subject to customary conditions. The company aims to merge with or acquire businesses, focusing on media sectors like Digital Marketing and Ad Tech. Underwriters have a 45-day option for an additional 3,000,000 units for over-allotments.
