{"componentChunkName":"component---src-templates-blog-post-js","path":"/blog/connected-vehicle-firm-wejo-reveals-plans-to-list-in-us/","result":{"data":{"site":{"siteMetadata":{"title":"No Frills News"}},"contentfulNfnPost":{"postTitle":"Connected vehicle firm Wejo reveals plans to list in US","slug":"connected-vehicle-firm-wejo-reveals-plans-to-list-in-us","createdLocal":"2021-06-02 14:31:05.109228","publishDate":"2021-06-02 08:23:25+01:00","feedName":"Connected Car","sourceUrl":{"sourceUrl":"https://www.prolificnorth.co.uk/news/tech-news/2021/06/connected-vehicle-firm-wejo-reveals-plans-list-us"},"postSummary":{"childMarkdownRemark":{"html":"<p>Manchester-based connected vehicle data company Wejo has announced its intention to list publicly in the US through a reverse merger with Virtuoso Acquisition Corp, a special-purpose acquisition company (SPAC).\nUpon completion of the transaction, the combined company will operate under the Wejo name.\nThe deal values the company at $800 million (£565.2 million), and will raise approximately $330 million in proceeds - including $32m debt - the company said.\nProceeds will fund Wejo’s plans, which include the continued rollout of new offerings and services for connected vehicle customers and further expansion into “new geographies and in-demand marketplaces”.\nRichard Barlow, CEO and Founder of Wejo, said the company expects rapid growth in revenues in coming years.</p>"}}}},"pageContext":{"slug":"connected-vehicle-firm-wejo-reveals-plans-to-list-in-us"}}}