General Motors and Palantir will support a $100m PIPE deal in connection with a reverse takeover for the vehicular data platform developer.
Wejo, the UK-based vehicle data platform operator backed by carmaker General Motors (GM), has agreed a reverse merger with special purpose acquisition company Virtuoso Acquisition Corp.
The merged company will have an $800m enterprise value and will take Virtuoso’s listing on the Nasdaq Capital Market, obtained through a $207m initial public offering in January this year.
The deal will be boosted by $100m in private investment in public equity (PIPE) financing from strategic investors including GM and data analytics…
