Wejo and Virtuoso Acquisition Corp. Announce Additional Financing Arrangements Related to Upcoming Merger
Summary
Mason Stevens brings important long-term support from the Asia-Pacific region and joins other institutional and strategic PIPE investors in Wejo, including Microsoft, Palantir Technologies, General Motors, and Sompo. Richard Barlow, Founder and Chief Executive Officer of Wejo, said, “ As we approach the completion of our merger with Virtuoso Acquisition Corp. and our public listing, we are delighted to have arranged this additional financing, which is a validation by highly regarded global investors of the considerable momentum we have built in our business and our future growth opportunities. The combination of our PIPE, cash in trust, and Apollo’s forward purchase agreement, ensures we have significant capital for the future to invest in product and technology development, global distribution of our products and services, OEM onboarding, and accelerating our marketplace growth.” Rob Givone, Partner at Apollo, stated, “ We are excited to support this transaction with Wejo, a global market leader in connected vehicles. Wejo has established relationships with major OEMs and related Tier 1 automotive suppliers, and has received strategic investments from blue-chip companies such as GM, Microsoft, and Palantir. Stockholders will also be able to obtain copies of such documents, without charge, at the SEC’s website at www.sec.gov, or by directing a request to: Virtuoso Acquisition Corp., 180 Post Road East, Westport, CT 06880, or (203) 227-1978.