Exclusive: Wejo to go public; deal values auto data startup at $800 million - sources
By Ben Klayman and Paul Lienert
Reuters
DETROIT (Reuters) - Auto data startup Wejo on Friday will announce plans to go public through a reverse merger with blank-check company Virtuoso Acquisition Corp in a deal that values the British company at $800 million including debt, people familiar with the plans said.
The deal, to be announced after the stock market closes, will raise $330 million in proceeds for Wejo, said the sources, who asked not to be identified. They said that includes $230 million from Special-Purpose Acquisition Company (SPAC) Virtuoso and another $100 million referred to as Private Investment in Public Equity (PIPE).
Paytm eyes Rs 21,000 crore IPO this year: Report
6 hours ago
Vijay Shekhar Sharma’s One97 Communications Ltd., the parent entity of Paytm, is looking to list on the stock exchanges sometime this year, Bloomberg reported. The company is looking to raise $3 billion or Rs 21,800 crore through the initial public offering (IPO).
Quoting an anonymous source, the report said that the company plans to list its stocks on Indian exchanges around November and its offering could coincide with the Diwali festival season. Paytm’s investors include Berkshire Hathaway, SoftBank and the Ant Group. One97 could fetch a valuation of $25 billion to $30 billion, the report said. Adding that One97’s board is scheduled to meet this Friday to formally approve the IPO plan, the report added.