Appleby advised Wejo Group Limited, Wejo Bermuda Limited and Wejo Limited on matters of Bermuda law in its USD1.1 billion merger with Virtuoso Acquisition Corp.
Appleby advised on all matters of Bermuda law including, but not limited to: forming and structuring the Bermuda companies; the business combination between the Wejo group of companies and Virtuoso Acquisition Corp; the listing of Wejo Group Limited on NASDAQ; and all pre and post-closing matter relating to the transaction.
The parties chose Bermuda as the jurisdiction of incorporation for Wejo Group Limited, which is the group parent and company listed on NASDAQ, and Wejo Bermuda Limited. The world of SPAC (special purpose acquisition company) and de-SPACs has been active over the last 18 months. Bermuda's reputation as a financial and regulatory powerhouse is further evidenced by the parties choosing to structure the ultimate parent and its affiliate (WBL) as a Bermuda companies.
Partner Jerome Wilson led the transaction with support by Senior Associate Josephine Noddings and Associates Riley O'Brien, Carl Meyer and Ashley Bento. Weil Gotshal & Manges acted as lead legal advisors to Wejo.
Wejo is a global leader in connected vehicle data. The company enables smarter mobility by organizing trillions of data points from 11.8 million vehicles and more than 58 billion journeys globally, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information and intelligence, Wejo is creating a smarter, safer, more sustainable world for all.
Virtuoso Acquisition Corp. was a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses.