Virtuoso Acquisition sscheduled a Nov. 16 shareholder vote on the proposed merger with connected vehicle data company Wejo. The SPAC also said its registration statement on Form S-4 has been declared effective by the SEC.
Announced in May, the $800 million enterprise value for Wejo implies an estimated $1.1 billion pro forma equity value.
The transaction is expected to deliver approximately $330 million of gross proceeds, composed of Virtuoso’s $230 million cash held in trust, assuming no redemptions, and a fully committed $100 million PIPE. Read more.
