secwatch.observer — SEC 8-K summary
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Issuer:     Concord Acquisition Corp (—)
CIK:        0001824301
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001213900-22-077655
Event type: other_material
Sentiment:  negative
Materiality: 0.95
Item codes: 1.01, 1.02, 3.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Concord Acquisition Corp terminates Circle merger, will redeem shares at ~$10.17 and liquidate
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- Mutual termination of proposed business combination with Circle Internet Financial; Circle to issue $20M in shares to Concord for expenses.
- NYSE delists Concord's warrants (CND.WS) due to 'abnormally low' trading price; Class A common stock and units continue trading.
- Concord will redeem all public shares at ~$10.17 per share on Dec 20, 2022; warrants expire worthless.
- Circle reports Q3 2022 revenue $274M, net income $43M, unrestricted cash ~$400M.
- Concord expects last trading day Dec 10, 2022; will file Form 25 to delist and Form 15 to terminate SEC registration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1824301/000121390022077655/0001213900-22-077655-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1824301/000121390022077655/ea169618-8k_concord.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-077655

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