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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.
