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      Here is why Virtuoso Acquisition Corp. (VOSO) stock performed well in the after-hours on Wednesday? - Stocks Telegraph

      By Asim Kamal

      Published on

      November 18, 2021

      6:16 AM UTC

      Here is why Virtuoso Acquisition Corp. (VOSO) stock performed well in the after-hours on Wednesday? - Stocks Telegraph

      Virtuoso Acquisition Corp. (VOSO) shares rose 15.08% in after-hours on Wednesday, November 17, 2021, and closed at $11.6. Even in the regular trading session, VOSO’s stock gained 1.51%.

      Let’s have a look at its recent news and developments.

      Merger approval by VOSO shareholders

      On November 17, 2021, the shareholders of Virtuoso Acquisition Corp. (VOSO) voted to approve its proposed merger with Wejo Group Limited at a Special Meeting of Shareholders.

      The common stock and warrants of the combined company, which will be called Wejo, are expected to commence trading on the Nasdaq Stock Market on November 19, 2021, under the new ticker symbols, “WEJO” and “WEJOW,” respectively.

      Additional financing for VOSO and Wejo merger

      On November 10, 2021, Wejo Group Limited and Virtuoso Acquisition Corp. (VOSO) announced two agreements to secure additional financing arrangements related to their merger.

      Virtuoso signed an agreement with an Australia-based institution, Mason Stevens, under which Mason Stevens make will an investment of $3.5 million as part of the Private Investment in Public Equity (PIPE) financing, bringing the total financing to $128.5 million.

      Wejo also entered into a forward purchase agreement with an affiliate for up to 7.5 million shares of Virtuoso with a value of up to $75 million.

      Wejo Partnership with Microsoft

      November 10, 2021, Wejo who recently merged with Virtuoso Acquisition Corp (VOSO) reported additional progress in its strategic partnership with Microsoft in which Wejo’s robust suite of data assets are being built on the Microsoft Azure cloud platform.

      Wejo and Hella partnership update

      On November 04, 2021, Wejo and Hella Gutmann Solutions detailed notable recent achievements of their partnership, which include multiple business applications for connected vehicle data across the vehicle lifecycle. Hella is a minority investor in Wejo, which became a publicly listed company through its merger with Virtuoso Acquisition Corp. (VOSO).


      The stock price went up after shareholders approved the merger agreement. We wish the best of luck to the newly merged company WEJO.

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