Andretti SPAC’s shareholders to vote on proposed merger with AI firm

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6 thoughts on “Andretti SPAC’s shareholders to vote on proposed merger with AI firm

  1. Andretti Global colapses:

    https://autogear.pt/en/michael-andrettis-f1-dream-shattered-andretti-cadillac-bid-crumbles-amid-reshuffle-at-andretti-global/#google_vignette

    I’m not surprised, and here is why:

    1- On May 28, 2021, during the Indianapolis 500, Palantir, GM and a group of private investors announced that they were taking public a British company called Wejo, and the IPO took place in Nov 15 2021:

    DETROIT, May 28 (Reuters) – Auto data startup Wejo, backed by General Motors Co tab, will go public through a reverse merger with blank-check company Virtuoso Acquisition Corp (VOSO.O), opens new tab in a deal that values the British company at $800 million including debt, the companies said on Friday. The deal will raise $330 million in proceeds for Wejo, the companies said. That includes $230 million from Special-Purpose Acquisition Company (SPAC) Virtuoso and another $100 million referred to as Private Investment in Public Equity (PIPE)

    https://www.reuters.com/business/autos-transportation/exclusive-wejo-go-public-deal-values-auto-data-startup-800-mln-sources-2021-05-28/

    2- On Dec 10, 2020, the Purdue Discovery Park announces a study of driver braking data in Indiana with Wejo: https://purr.purdue.edu/publications/3656/1On

    3- On Jan 11 2023 Bloomberg reports that Wejo was engaged in a SPAC Squared transaction: https://www.bloomberg.com/opinion/articles/2023-01-11/spac-squared-is-wall-street-s-latest-wheeze

    4- On April 17th 2023 Autoracing reports that Andretti Global invests in Apollo SPAC I Fund L.P.: https://www.autoracing1.com/pl/396599/indycar-f1-as-it-prepares-to-enter-f1-andretti-team-takes-on-co-owners/

    5- Apollo SPAC Fund I, L.P. currently owns a total of 1 stock: 7,500,000 shares of Virtuoso Acquisition Corp (VOSO) as of November 15, 2021, with a value of $109 Million.: https://www.gurufocus.com/insider/180613/apollo-spac-fund-i,-l.p.

    6- Virtuoso merged with Wejo UK and starts trading in US: https://www.renaissancecapital.com/IPO-Center/News/96823/Media-and-tech-SPAC-Virtuoso-Acquisition-2-withdraws-$200-million-IPO

    7- Wejo is an investment of Cambridge Analytica trader Palantir, accused of a $1B pump and dump scheme: https://www.rgrdlaw.com/assets/htmldocuments/complaints/PLTR-Complaint.pdf

    8- On May 30th 2023 the senate opens an investigation on this group for illegal data trading: https://www.nytimes.com/2024/07/26/technology/driver-data-sold-for-pennies.html

    9- On May 30 2023 Wejo cancels the merge with TKB, and it comes out that Wejo was sponsored since May 28th 2021 by an Indiana investment group sponsored by IEDC called Project Energy Reimagined Acquisition Company (PERG) https://www.prolificnorth.co.uk/news/tkb-terminates-wejo-merger-agreement/

    10- On May 31st IEDC agent Purdue Research Foundation (dba Purdue Discovery Park, IN3, Indy Innovation, Indiana 5G Zone, 9-12 LLC, Emerging Manufacturing Center, Energy Systems Networks, Battery Innovation Center, and the $100M Indiana Autonomous Challenge) reports that Wejo transferred them driver data from all 50 states:

    https://www.reddit.com/r/Wejo_HQ/comments/104qfgo/darcy_bullock_and_the_team_at_purdue_university/

    11- On May 31 2023, Palantir announces that went to Jacobs Engineering for a water partnership:
    https://www.jacobs.com/newsroom/press-release/jacobs-and-palantir-expand-partnership

    12- On Jun 1st, 2023, Wejo UK shuts down, wages are recalled, the collapse is reported to be worse than ENRON, leaving shareholders with a $105M debt:. https://www.prolificnorth.co.uk/news/confusion-wejo-wages-recalled-shares-continue-trade/

    13- On Dec 18th 2023 How Purdue University helped bring a ‘hard tech corridor’ to the heartland: https://www.aau.edu/newsroom/articles-op-eds/how-purdue-university-helped-bring-hard-tech-corridor-heartland

    14- On Dec 19th 2023 IEDC announces an extension on their Andretti Global sponsorship: https://andrettiglobal.com/news/2023/12/iedcs-andretti-formula-e-partnership-continues-to-highlight-indiana-on-a-global-scale/

    15- On Jan 1st, 2024, the Wejo US leftovers are transferred to Jacobs Engineering: https://pitchbook.com/profiles/company/100237-42

    16- On March 27th, 2024, EDC announces that Jacobs Engineering oversees the controversial LEAP water partnership, a $100M project: https://www.citact.org/leap

    17- On May 2024 Hard-Tech Corridor emerges with leadership from Purdue and partners https://www.purdue.edu/newsroom/2024/Q2/hard-tech-corridor-emerges-with-leadership-from-purdue-and-partners/

    18- On July 1st, 2024, the group announces that they are in charge of the LEAP hard corridor: https://stories.prf.org/hard-tech-corridor/

    “The persistent pursuit of the next Giant Leap has led Purdue University and the State of Indiana to establish a hard-tech ecosystem at the smart crossroads of America. The Hard-Tech Corridor along I-65 promises to unlock new advancements in tech for Indiana and beyond.”

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