Engel Law PLLC is investigating whether fair value to TKB shareholders will result from the proposed business combination of TKB Critical Technologies 1 (NASDAQ: USCT) and Wejo Group Limited in a stock-for-stock merger. (Each of Wejo and TKB will become wholly owned subsidiaries of a new holding company [“Wejo Holdings”]. At closing of the transaction, each issued and outstanding share and warrant of TKB will be exchanged for the right to receive a number of Wejo Holdings common shares and warrants, respectively, based on an exchange ratio calculated by dividing $11.25 by the volume weighted average price per Wejo common share for the 15 consecutive trading days immediately preceding the second trading day prior to the date of Wejo’s shareholders’ meeting, subject to a collar.)
The Firm’s investigation concerns:
(i) whether the Company’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction;
(ii) whether the merger consideration adequately compensates the Company’s shareholders; and
(iii) whether all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.