Online car dealer Cazoo to list in New York via $7bn Och-backed SPAC
Hedge-fund founder Dan Och plans to join the company’s board
29 March 2021 - 22:11
New York — Online car dealer Cazoo will list in New York after selling itself to hedge-fund founder Dan Och’s blank-cheque company in a deal valued at $7bn, turning its back on a potential initial public offering in London.
The combination with special-purpose acquisition company Ajax I will raise about $1.6bn in proceeds for the company, including $805m in a cash trust from the SPAC and another $800m from Ajax’s sponsors, Cazoo said in a statement on Monday. London-based Cazoo will be listed in New York after the deal closes, and Och said he plans to join the company’s board...
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