Cazoo to go public in SPAC deal at $7 billion valuation

HomeTechnology

Cazoo to go public in SPAC deal at $7 billion valuation

Published: March 29, 2021 at 7:30 a.m. ET U.K. online car retailer Cazoo

Vidyard Named One of Deloitte’s 2018 Fast 50™ and Technology Fast 500™ Fastest Growing Companies – GlobeNewswire
Sony Will No Longer Offer Free Next-Gen Upgrades For Its First-Party Games
Project Eve looks like a cross between Nier and Bayonetta

U.K. online car retailer Cazoo Holdings said it’s agreed to be bought by special purpose acquisition company AJAX I
AJAX,
+2.34%

in what said was an enterprise value of $7 billion. Terms call for up to $805 million in cash, and an $800 million fully committed PIPE at $10 per share with investors including Altimeter, funds & accounts managed by BlackRock, Counterpoint Global (Morgan Stanley) and Fidelity Management and Research Company LLC, Marcho Partners, Mubadala Capital, Pelham Capital, Senator Investment Group and Spruce House Partnership. Dan Och, the founder of AJAX, will join Cazoo’s board, which will continue to be led by Founder and CEO Alex Chesterman. Cazoo, which will trade on the New York Stock Exchange with a ticker of CZOO, expects to achieve revenues approaching $1 billion in 2021.

COMMENTS

WORDPRESS: 0
DISQUS: