Concord Acquisition II and its sponsor in an 8-K said they entered into one or more agreements with third parties in exchange for them agreeing not to redeem an unspecified number of shares ahead of an Aug. 29 extension vote.
The SPAC wants to push its deadline from Sept. 3 to June 3, 2024.
Participants in the agreement would receive a number of Class B shares, which also were not specified in the filing.
Formed by Atlas Merchant Capital, the SPAC raised $280 million in an IPO nearly two years ago with plans to acquire a business in the financial services and financial technology sectors, including payments, enterprise software, and data analytics. Read more.
