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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.
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