Deal that would have raised $100m for troubled Wejo cancelled as administration looms

A planned reverse-merger involving connected vehicle data company Wejo which would have raised around $100m has been cancelled.

Manchester-headquartered Wejo was due to complete the deal with TKB Critical Technologies, a special purpose acquisition company (SPAC) by June 29.

However, the move will now not go ahead, according to a recent filing in the US.