Otonomo, the mobility data business valued at $1.4B in 2021 SPAC IPO, acquired by Urgent.ly as market cap dips to $70M

Otonomo, connected automotive company that has seen its stock price plummet since going public in 2021, has announced that it is coming together with Urgent.ly, a roadside assistance tech provider, in a reverse merger. The two are combining in an all-share deal that will see Urgently shareholders take 67% of the company and Otonomo shareholders take 33%. The stock, which had traded under OTMO on Nasdaq, will now trade under the ULY ticker.
Otonomo went public in 2021 on Nasdaq in a SPAC deal that valued the company at $1.4 billion at its debut. But the writing for it (and indeed SPACs) may hav

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