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Concord Corp II (CNDA) has provided an update.
Concord Acquisition Corp II and Events.com have announced a merger agreement where Events.com will become a wholly-owned subsidiary of Concord, expected to take effect upon stockholder approvals and other conditions. Post-merger, the company will be renamed Events.com, Inc. (“New CND”). The deal includes the issuance of New CND Class A common stock to Events.com’s shareholders, with additional shares potentially issued based on future stock performance. Events.com will also undergo a recapitalization before the merger, converting all preferred stock into common stock. The transaction is bolstered by several agreements, including a Lock-Up Agreement with Events.com founders and Sponsor Support Agreement with initial sponsors, aimed at aligning interests and securing the merger’s success.
Find detailed analytics on CNDA stock on TipRanks’ Stock Analysis page.
