Concord Acquisition in a proxy filing now seeks to push its merger deadline with Circle Internet Financial Limited to Jan. 31.
The most recent extension on the deal with the Stablecoin issuer was pushed back in June to Dec. 10. The SPAC in the latest filing said it does not beleive there will be enough time to close the deal without the extension. A meeting date for the vote has not been published.
Circle in February announced that it agreed to new transaction terms with Concord Acquisition, increasing the implied valuation of the combined company to $9 billion — up from the previous $4.5 billion when the deal was announced in July 2021. It was the first revised SPAC deal in at least a year where the target’s valuation increased. Read more.
