Circle and its planned special purpose acquisition company (SPAC) partner Concord have mutually decided not to go public.
Business Combination Terminated
On Monday, Circle Internet Financial and Concord Acquisition Corp (NYSE:CND) mutually decided to terminate the proposed business combination.
Speaking on the dissolution of the partnership agreement, Circle CEO Jeremy Allaire stated,
“We are disappointed the proposed transaction timed out, however, becoming a public company remains part of Circle’s core strategy to enhance trust and transparency, which has never been more important.”
The crypto company and the publicly traded SPAC company first announced their partnership in July 2021. The partnership agreement was amended in February 2022, which set a December 10, 2022, deadline to consummate the business combination. According to the now-nullified agreement, Concord was also liable to a shareholder vote that could extend the deadline till January of next year.
No Appro
We współpracy z: https://cryptodaily.co.uk/2022/12/circle-pulls-the-plug-on-going-public
