Virtuoso Acquisition Corp. Announces Regained Compliance With Nasdaq Listing Rules

Rhea-AI Summary

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.

Positive

• Compliance with Nasdaq Listing Rule 5250(c)(1) enhancing market credibility.
• Upcoming merger with Wejo Limited expected to strengthen business model and market presence.

Negative

• None.

Westport, CT, June 17, 2021 (GLOBE NEWSWIRE) -- Virtuoso Acquisition Corp. (NASDAQ: VOSO) (the “Company”) received a letter on June 16, 2021 from Nasdaq stating, that based on the Company’s filing of its Form 10-Q for the quarter ended March 31, 2021 on June 3, 2021, Nasdaq has determined that the Company now complies with the filing criteria established in Nasdaq Listing Rule 5250(c)(1).

About Virtuoso Acquisition Corp.

Virtuoso Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. On May 28, 2021, the Company and Wejo Limited, a UK based entity that is a leader in connected vehicle data, announced that they have entered into a definitive agreement for a business combination. The transaction is expected to close in the later part of 2021. The Company is led by Chief Executive Officer Jeffrey D. Warshaw and Chief Financial Officer Michael O. Driscoll.

Forward-Looking Statements

This press release, and oral statements made from time to time by representatives of the Company, may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding our pending business combination and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, forward-looking statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar words or expressions of a future or forward-looking nature (or the negative versions of such words or expressions), as they relate to us or our management team. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Forward-looking statements are also subject to numerous conditions, many of which are beyond the control of the Company. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including those set forth in the Cautionary Note Regarding Forward-Looking Statements and Risk Factors sections of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Accordingly, you should not place undue reliance on any such forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:
             
Jeffrey D. Warshaw
Chief Executive Officer
jeff@virtuosoacquisition.com
203 571-6161

FAQ

What is the latest update on Virtuoso Acquisition Corp's compliance with Nasdaq?

On June 16, 2021, Virtuoso Acquisition Corp. confirmed compliance with Nasdaq Listing Rule 5250(c)(1) after filing its Form 10-Q for Q1 2021.

What is the significance of Virtuoso Acquisition Corp. merging with Wejo Limited?

The merger with Wejo Limited, a leader in connected vehicle data, is expected to expand Virtuoso's business operations and enhance its market presence.

When is the merger between Virtuoso Acquisition Corp. and Wejo Limited expected to close?

The merger is anticipated to close in the later part of 2021.

What is the stock symbol for Virtuoso Acquisition Corp.?

The stock symbol for Virtuoso Acquisition Corp. is VOSO.