HERZLIA, Israel and SAN FRANCISCO, Sept. 19, 2023 (GLOBE NEWSWIRE) — Otonomo Technologies Ltd. (NASDAQ: OTMO) (“Otonomo”), a platform powering the mobile economy, today announced that its shareholders have approved a Urgent.ly, Inc. (“Urgently”), a leading U.S. provider of digital curbside and mobile assistive technologies and services, held a special meeting of shareholders yesterday. A Form 6-K disclosing the complete results of the vote was filed with the U.S. Securities and Exchange Commission.
The transaction is expected to close by the end of October 2023. Upon completion of the transaction, the combined company will operate under the name Urgent.ly, Inc. and its common stock is expected to be traded on The Nasdaq Stock Market, LLC. Market LLC) under the symbol “ULY”, subject to Nasdaq approval.
About Otonomo
Otonomo (NASDAQ: OTMO) is a platform that drives the mobile economy and is inspiring a new generation of mobile experiences and services and making mobility more convenient, equitable, sustainable and secure. With Otonomo, more than 100 providers in the transportation, mobility, insurance and automotive industries can finally harness mobility data and insights and turn them into strategic assets and market advantage. Our partners only need one contract and one API to access the broadest and most diverse data from connected vehicles. Our platform is designed with privacy and security in mind and is compliant with GDPR, CCPA and other privacy regulations, ensuring all parties are protected and the company remains privacy compliant across the globe. Otonomo has research and development centers in Israel and the United Kingdom, as well as offices in the United States and Europe. For more information, please visit www.otonomo.io.
About emergency
Emergency keeps vehicles and people moving by delivering a safe, innovative and superior mobility assistance experience. The company’s digitally native software platform combines location-based services, real-time data, artificial intelligence and machine-to-machine communications to provide roadside assistance solutions for leading brands in automotive, insurance, telematics and other transportation-focused verticals. plan. Urgently meeting the need for connected roadside assistance services, enabling its partners to deliver a superior user experience by delivering innovative, transparent and superior connected mobile assistance experiences globally, thereby increasing customer satisfaction and loyalty. For more information, please visit www.geturgently.com.
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forward-looking statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are based on Otonomo management’s current plans, estimates and expectations based on historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that may cause actual results to differ materially from such statements. . The inclusion of forward-looking statements should not be deemed to represent that such plans, estimates and expectations will be achieved. Words such as “anticipate”, “expect”, “project”, “intend”, “believe”, “may”, “will”, “should”, “plan”, “could”, “continue”, “goal” etc. , “consider,” “estimate,” “forecast,” “guidance,” “forecast,” “likely,” “potential,” “pursuit,” “could” and words and terms of similar content in connection with any discussion of future plans Statements of actions, actions or events are forward-looking statements. All statements other than historical facts, including statements regarding the expected timing of completion of the proposed transaction; the ability of the parties to consummate the proposed transaction, given various closing conditions; the anticipated benefits of the proposed transaction; and any assumptions underlying any of the foregoing are forward-looking sexual statements. Important factors that could cause actual results to differ materially from Otonomo and Urgently’s plans, estimates or expectations may include, but are not limited to: (i) the risk that the proposed transaction may not be completed on a timely basis or at all, which may have adverse effects on Otonomo and Urgently’s business; and an adverse effect on the price of Otonomo’s trading securities; (ii) uncertainty as to the timing of completion of the proposed transaction and the possibility that conditions to consummation of the proposed transaction may not be satisfied; (iii) the proposed transaction may involve unexpected costs, liabilities or delays; (iv) Otonomo or Urgently’s respective businesses may be affected by the uncertainty surrounding the proposed transaction and the disruption to management’s attention caused by the proposed transaction; (v) the outcome of, or the impact of, any legal proceeding relating to the proposed transaction or otherwise; (vi) Otonomo or Urgently may be adversely affected by other economic, business and/or competitive factors; (vii) the occurrence of any events, changes or other circumstances that may result in the termination of the merger agreement and the proposed transaction; (viii) the possibility that the proposed transaction may be terminated while the proposed transaction is pending limitations affecting Otonomo’s or Urgently’s ability to pursue certain business opportunities or strategic transactions; (ix) the risk that Otonomo or Urgently may not obtain the required governmental and regulatory approvals for the proposed transaction, or that the required governmental and regulatory approvals may be The risk of delaying the consummation of the proposed transaction or resulting in the imposition of conditions that may reduce the anticipated benefits of the proposed transaction or cause the parties to abandon the proposed transaction; (x) the anticipated benefits of the proposed transaction or other business opportunity may not be fully realized or may require more time than anticipated. risks that may take a long time to materialize; (xi) the impact of legislative, regulatory, economic, competitive and technological changes; (xii) the post-closing integration of Otonomo and Urgently may not occur as expected or the combined company may not realize transaction expectations risks to the growth prospects and synergies, as well as potential delays, challenges and risks associated with integrating the combined company’s existing businesses; (13) Inflation, exchange rate and interest rate fluctuations and risks related to local and international operations; (xiv) the impact of the COVID-19 pandemic on Otonomo and Urgently’s business and general economic conditions; (xv) the unpredictability and severity of catastrophic events, including without limitation acts of terrorism or the outbreak of war or hostilities, and Otonomo and Urgently’s reactions to any of the above factors. Additional factors that could affect Otonomo’s future results are set forth in its filings with the U.S. Securities and Exchange Commission (“SEC”), including Otonomo’s most recently filed Annual Report on Form 20-F, Current Report on Form 6-K and other SEC filings The filings are available on the SEC website at www.sec.gov. See specifically under the heading “Risk Factors” in Item 3D of Otonomo’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022. The risks and uncertainties described above and in the above SEC filings are not exclusive, and further information about Otonomo and Urgently and their respective businesses, including factors that could materially affect their respective businesses, financial condition or results of operations, may from time to time Appear. time. Readers are urged to consider these factors carefully when evaluating these forward-looking statements and not to place undue reliance on any forward-looking statement. Readers should also carefully review the risk factors described in other documents Otonomo and Urgently file with the SEC from time to time. The forward-looking statements in this press release speak only as of the date of this press release. Except as required by law, Otonomo and Urgently undertake no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.
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