Concord Acquisition II in an 8-K disclosed that it entered into a non-binding letter of intent for a business combination “with an industry-leading marketplace and SaaS platform in the fintech, events management, AI, and consumer engagement space.” The news comes a week befoee the SPAC’s shareholders are scheduled to vote on a 9-month deadline extension proposal on May 30.
The current deadline is June 3.
The SPAC holds nearly $156 million in trust, according to a proxy filed earlier this month.
Formed by Atlas Merchant Capital, the SPAC raised $280 million in a 2021 IPO with plans to acquire a business in the financial services and financial technology sectors. Read more.
