Wejo Group Limited announced a private placement of 11,329,141 units at a price of $1.40197 per unit for the gross proceeds of $15,900,000 on July 27, 2022. Each unit will consist of one of the company's common shares, and one third of one warrant. The transaction include participation from certain members of its Board of Directors, and SOMPO Light Vortex Inc. Each warrant can purchase one common share for a period of five years at an exercise price of $1.564345.

Continental Stock Transfer & Trust Company acted as Warrant Agent in the transaction. The company will issue 3,745,748 warrants in the transaction to purchase one common share. The company will issue securities pursuant to exemption provided under Regulation D. The transaction is expected to close on July 29, 2022.