Concord Acquisition Corp II signs non-redemption pacts to secure extension vote

Concord Acquisition Corp II

Agreements with investors not to redeem public shares at Aug 29 meeting; investors get Promote Shares (Class A) at deal close.
Sponsor will forfeit an equal number of Class B shares for no consideration upon business combination.
Extension vote would move deadline from Sept 3, 2023 to June 3, 2024.
Non-redemption pacts expected to increase funds remaining in trust after the meeting.
Agreements terminate if extension not approved, SPAC liquidates, or investor redeems.

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