Concord Acquisition II Prices $250M IPO


Concord Acquisition II priced its IPO of 25 million units at $10 each.

Units begin trading today on the NYSE under CNDA.U. Each consists of one share and one-third of one redeemable warrant. Whole warrants will be exercisable for a share at $11.50. Once the securities begin separate trading, stock and warrants will list under CNDA and CNDA.WS.

Formed by Atlas Merchant Capital, the new SPAC intends to acquire a business in the financial services and financial technology sectors, including payments, enterprise software, and data analytics.

The first Concord SPAC is in a pending merger with fintech Circle at a valuation of $4.5 billion.

Citigroup and Cowen are joint book-running managers of the offering. The underwriters have an option to purchase up to an additional 3.75 million units to cover any over allotments. Read more.

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