And the money kept rollin’ in from every side: Cazoo brings home $630 million

FF Injector Apk

In less than a year the company has seen a public listing via a SPAC mergerrecord Q2 numbers, and a seemingly unending round of acquisitions including SMH Fleet Solutions for £70 million and Swipcar for €30 million, and brumbrum for €80 million.

And now, the company is adding another $630 million to the fires through a 2 percent sale via convertible senior notes, that subsequently will convert to Class A ordinary shares at a price of $5.00 per share. This price represents a 20% premium to the trailing 5 trading day volume-weighted average price of the share.

As a reminder: Cazoo’s initial share price was listed at $10, a common figure for most SPAC listings, with the market then determining how much the company is worth.

As pointed out by Atreides Managment‘s Gavin Baker:

The purchasing parties of said shares are led by Viking Global Investors with several existing shareholders including Mubadala Investment CompanyD1 Capital, and Willoughby Capital all ponying up.

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About the Author: John Froebel

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