Cazoo and Ajax I Announce Filing of Preliminary Proxy Statement in Connection with Proposed Business Combination

Cazoo Holdings Limited (“Cazoo” or “the Company”), the UK’s leading online car retailer, which makes buying a car as simple and seamless as purchasing any other product online and Ajax I (“AJAX”) (NYSE: AJAX), a publicly-traded special purpose acquisition company (“SPAC”), today announced that a preliminary proxy statement/registration statement on Form F-4 has been filed with the U.S. Securities and Exchange Commission (“SEC”) in connection with the previously announced business combination transaction between Cazoo and AJAX. The filing can be accessed at https://ajaxcap.com/ or by searching for AJAX I on the SEC’s website at https://www.sec.gov/edgar.shtml.

While the information in the preliminary proxy statement filed today is subject to change, it provides important information about AJAX’s proposed business combination with Cazoo. AJAX currently anticipates holding a shareholder meeting with respect to the business combination in the third quarter of 2021.

As previously announced on March 29, 2021, upon closing of the business combination, AJAX will be renamed “Cazoo” and is expected to remain listed on the New York Stock Exchange under a new ticker “CZOO.” As part of the deal, Cazoo will retain its highly experienced management team, led by Founder and CEO Alex Chesterman OBE.

This transaction will support Cazoo’s mission to continue to transform the car buying experience across Europe, with the proceeds funding the further build out of its brand and infrastructure. With its best-in-class and unique consumer proposition and fully integrated model, Cazoo is well positioned to take advantage of the shift to online car buying and disrupt the huge and highly fragmented European car buying market.

The transaction includes an $800 million fully committed PIPE at $10.00 per share led by the AJAX sponsor team and D1 Capital Partners, and joined by new and existing investors including Altimeter, funds & accounts managed by BlackRock, Counterpoint Global (Morgan Stanley) and Fidelity Management and Research Company LLC, Marcho Partners, Mubadala Capital, Pelham Capital, Senator Investment Group and Spruce House Partnership. The AJAX sponsor team, led by Dan Och, and including Glenn Fuhrman, Steve Ells, Jim McKelvey, Kevin Systrom and Anne Wojcicki have committed $200 million to the PIPE.