Post-acquisition, the DMGT-backed online vehicle marketplace's valuation will be nearly three times that of its last funding round five months ago.
Cazoo, the UK-based online automotive marketplace that counts media group Daily Mail and General Trust (DMGT) as an investor agreed a reverse merger with special purpose acquisition company Ajax I yesterday.
The combined company will take on the New York Stock Exchange listing obtained by Ajax through its $750m initial public offering in October 2020. The deal will be boosted by $800m in private investment in public equity (PIPE) financing at a $7bn valuation.
Ajax’s sponsors and D1 Capital…
