Wejo Group Limited announced a private placement of unsecured non-convertible note to Tim Lee in the aggregate principal amount of $2,000,000 on March 21, 2023. The note also requires the company to issue a warrant to acquire the company's common shares upon the occurrence of a subsequent transaction. The note matures on May 22, 2023.

The note does not accrue interest, but the company must pay a redemption premium of 110% of the principal amount of the note to redeem the note at or before the maturity date.