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Wejo Limited, a leader in connected vehicle data, has announced a definitive agreement with Virtuoso Acquisition Corp. (VOSO) for a business combination. This transaction emphasizes Wejo's goal to establish an industry standard for connected vehicle data. The combined company, operating under the Wejo name, aims to leverage its unique data capabilities, which include collecting 14.6 billion real-time data points daily. The merger is valued at $800 million and is expected to generate $330 million in gross proceeds to fund Wejo's strategic growth and expansion initiatives.
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.
