Concord Acquisition Corp II, a special purpose acquisition company, or SPAC, affiliated with investment firm Atlas Merchant Capital, and Events.com, an event management platform, have entered into a definitive agreement and plan of merger. The proposed business combination is subject to customary closing conditions, including regulatory and stockholder approvals. The combined public company is expected to be named “Events.com” and to list its common stock on the NYSE under the new ticker symbol “RSVP”. The proposed business combination implies a pro forma enterprise value of $399M, assuming a $434M equity value at closing, based on an estimated 43.4 million shares outstanding, and $35M of net cash. The boards of directors of CNDA and Events.com have approved the proposed transaction, subject to, among other things, the approvals by stockholders of CNDA and Events.com and satisfaction or waiver of the other conditions outlined in the merger agreement. Events.com has secured a capital commitment of $100M in the form of a Share Subscription Facility from Gem Global Yield. Events.com’s existing shareholders will continue to own the majority of the post-combination company upon consummation of the proposed business combination, the companies stated.
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