Financials-focused SPAC Concord Acquisition files for a $250 million IPO
Concord Acquisition, a blank check company formed by Atlas Merchant Capital targeting financial services and FinTech, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Concord Acquisition would command a market value of $320 million.
The company is led by Chairman Bob Diamond, who has served as CEO and Founding Partner of Atlas Merchant Capital since 2014, and CEO Jeff Tuder, who has served as an Operating Partner at Atlas Merchant Capital since September 2020 and previously founded Tremson Capital Management. Concord Acquisition plans to target established and growing businesses that are fundamentally sound with an attractive financial profile and poised for continued and accelerating growth, but potentially in need of some form of financial, operational, strategic or managerial guidance to maximize value.
Concord Acquisition was founded in 2020 and plans to list on the NYSE under the symbol CND.U. The company filed confidentially on September 22, 2020. Cowen is the sole bookrunner on the deal.
The article Financials-focused SPAC Concord Acquisition files for a $250 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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