TKB trust balance retains an additional $3.7 million after final shareholder vote on extension of time to consummate business combination

Wejo Group Limited (NASDAQ:WEJO) ("Wejo"), a global leader in Smart Mobility for Good cloud and software solutions for connected, electric and autonomous vehicle data, today announced TKB Critical Technologies 1 (NASDAQ:USCT) ("TKB") retained approximately $56.7 million in its trust account after a final shareholder vote to extend the time it has to consummate a business combination to June 29, 2023. The vote, which was approved by approximately 99% of the votes cast at the meeting, representing approximately 82% of TKB's outstanding shares, resulted in the retention of approximately $3.7 million more in TKB's trust account than was reported by TKB on January 25, 2023.

"TKB's retention of $6.7 million more than expected in total in its trust account reflects TKB shareholders' continued confidence in the value of Wejo's business, which includes an expected 200-300% year-over-year growth in revenue during 2023," said Richard Barlow, Founder and CEO at Wejo. "We are excited by the potential capital that will be available to us following the closing of the business combination with TKB. The successful execution of this transaction will allow us to continue to invest in our technology platform, deliver innovative smart mobility for good solutions, and scale our capabilities to meet increasing customer demand."

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