Concord Acquisition III in an 8-K said shareholders approved a deadline extension until November, alhtough redemptions wiped out the vast majority of the trust.
The SPAC said 30,460,066 shares were redeemed for cash at $317.39 million, leaving approximately $42.10 million in the trust account.
Concord III raised $345 million in a November 2021 IPO with plans to acquire and manage a business in the financial services and financial technology sectors, including payments, enterprise software, and data analytics.
