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Circle to go public at a $4.5 billion valuation through merger with SPAC Concord Acquisition

Dow Jones2021-07-08

MW Circle to go public at a $4.5 billion valuation through merger with SPAC Concord Acquisition

Circle is set to go public, after the provider of payments and treasury infrastructure to internet companies announced Thursday a merger agreement with special purpose acquisition company (SPAC) Concord Acquisition Corp. (CND), in a deal that values Circle at $4.5 billion. The deal is expected to result in gross proceeds of up to $691 million to the combined company. After the deal closes, which is expected to occur in the fourth quarter of 2021, the combined company is expected to list on the NYSE under the ticker symbol "CRCL." Concord Acquisition's stock, which started trading on Jan. 28, rose 1.1% in premarket trading, while futures for the S&P 500 dropped 1.3%. Circle enables businesses to use the digital currencies and public blockchains for payments, commerce and financial applications, and says it is the principal operator of the digital currency, USD Coin.

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Comment10

  • Hazchen55
    ·2021-07-08
    Another spac
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  • sentosa
    ·2021-07-08
    Good deal
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  • Waterbottle
    ·2021-07-08
    Hi
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  • Xue91
    ·2021-07-08
    Oh
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  • SL118
    ·2021-07-08
    Wow
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  • Roxan
    ·2021-07-08
    [Happy] 
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  • Roxan
    ·2021-07-08
    [Happy] 
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    • SL118
      [Smile]
      2021-07-08
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  • PanaCota
    ·2021-07-08
    Ok
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    • joshua0111Replying tonou
      nice
      2021-07-08
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    • MarkJuan
      Upz
      2021-07-08
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    • nou
      a
      2021-07-08
      Reply
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  • JDO
    ·2021-07-08
    Like and comment pls
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    • nou
      a
      2021-07-08
      Reply
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    • MarkJuan
      Welcome
      2021-07-08
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    • 股市专家
      Help me like
      2021-07-08
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  • ThomasToh
    ·2021-07-08
    Lets go
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    • Kingggg
      ?
      2021-07-08
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    • CPF008
      Yah, lets go
      2021-07-08
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