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Circle | Benzinga
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Digital Asset Firm Circle to Go Public in $4 5 Billion SPAC Deal, SeedInvest Along for the Ride
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Concord Acquisition Corp Announces the Separate Trading of Its Class A Common Stock and Warrants Commencing on or About January 28, 2021
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NEW YORK, Jan. 25, 2021 /PRNewswire/ Concord Acquisition Corp (NYSE: CND.U) (the Company ) today announced that holders of the units sold in the Company s initial public offering of 27,600,000 units completed on December 10, 2020 may elect to separately trade the shares of Class A common stock and warrants included in the units commencing on or about January 28, 2021. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on the New York Stock Exchange ( NYSE ) under the ticker symbol CND.U, and the Class A common stock and warrants that are separated will trade on the NYSE under the symbols CND and CND WS, respectively.
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Special-purpose acquisition company (SPAC) listings hit a record high in 2020 with 165 global SPAC IPOs occurring from January to October 2020, nearly twice the number of SPAC IPOs issued in 2019 and roughly five times that of 2015. While not a new phenomenon, these “blank-check” companies have exploded as an alternative way to take a business public, with familiar sponsors that investors trust often at the helm.
“For many years, people, including me, would walk around saying, ‘I really don’t like the classic IPO process,’ yet there wasn’t a good alternative,” David Schamis, founding partner and chief investment officer of Atlas Merchant Capital, explained to
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