Kimberly Redmond | |

Cazoo Holdings Limited, an online UK-based used car seller, has agreed to go public on the New York Stock Exchange through a merger with Ajax I, billionaire investor Daniel Och’s special purpose acquisition company (SPAC).

The deal announced Monday with AJAX I values Cazoo at $7 billion including debt, nearly 2.7x more than the $2.6 billion valuation achieved in its private funding round last fall.