Brief: Otonomo, Urgently To Combine To Create Leading Mobility Services Company

Urgent.ly

09/02/2023 22:35

Feb 9 (Reuters) - Otonomo Technologies Ltd  OTMO.O :
    * OTONOMO AND URGENTLY TO COMBINE TO CREATE LEADING MOBILITY
SERVICES COMPANY
    * OTONOMO TECHNOLOGIES LTD - AS A RESULT OF TRANSACTION,
URGENTLY
EXPECTS THAT ITS SHARES OF COMMON STOCK WILL BE LISTED UNDER
TICKER SYMBOL "ULY"
    * OTONOMO TECHNOLOGIES LTD - CO, URGENT.LY, INC. HAVE
ENTERED INTO
A DEFINITIVE AGREEMENT TO MERGE IN AN ALL-STOCK TRANSACTION
    * OTONOMO TECHNOLOGIES LTD - POST-CLOSING, OTONOMO WILL BE A
WHOLLY OWNED SUBSIDIARY OF URGENTLY
    * OTONOMO TECHNOLOGIES - OTONOMO'S SHAREHOLDERS & OTHER
EQUITYHOLDERS WILL OWN, IN AGGREGATE, ABOUT 33% OF COMBINED CO
ON FULLY DILUTED BASI
    * OTONOMO TECHNOLOGIES LTD - UPON CLOSING OF TRANSACTION,
MATT
BOOTH WILL BE CEO AND TIM HUFFMYER WILL BE CFO OF COMBINED
COMPANY
    * OTONOMO TECHNOLOGIES LTD - BEN VOLKOW WILL JOIN BOARD OF
DIRECTORS AND WILL HAVE AN ADVISOR ROLE WITH COMBINED COMPANY

Source text for Eikon:  ID:nGNXblK90X 
Further company coverage:  OTMO.O 
 ((Reuters.Briefs@thomsonreuters.com;))