Concord Acquisition Corp II Announces the Separate Trading of Its Class A Common Stock and Warrants Commencing on or About October 22, 2021

Rhea-AI Summary

Concord Acquisition Corp II (NYSE: CNDA.U) announced that from October 22, 2021, holders of units sold in its September 3, 2021 IPO can trade Class A common stock and warrants separately. Only whole warrants will be issued upon separation, while unseparated units will continue trading under ticker CNDA.U. Class A common stock will trade under CNDA, and warrants under CNDA.WS. The offering's joint book-running managers were Citigroup Global Markets and Cowen, with AmeriVet Securities as a co-manager.

Positive

• The separation of Class A common stock and warrants may enhance liquidity for investors.
• Trading of the shares under separate tickers could attract attention and increase market activity.

Negative

• None.

NEW YORK, Oct. 20, 2021 /PRNewswire/ -- Concord Acquisition Corp II (NYSE: CNDA.U) (the "Company") today announced that holders of the units sold in the Company's initial public offering completed on September 3, 2021 may elect to separately trade the shares of Class A common stock and warrants included in the units commencing on or about October 22, 2021. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on the New York Stock Exchange ("NYSE") under the ticker symbol "CNDA.U," and the Class A common stock and warrants that are separated will trade on the NYSE under the symbols "CNDA" and "CNDA.WS," respectively.

Citigroup Global Markets Inc. and Cowen and Company, LLC served as joint book-running managers of the offering. AmeriVet Securities, Inc. served as co-manager of the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds of the Company's initial public offering. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:
Concord Acquisition Corp II
Jeff Tuder
jeff@tremsoncapital.com

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SOURCE Concord Acquisition Corp II

FAQ

When can I start trading the shares of Concord Acquisition Corp II?

You can begin trading the shares on or about October 22, 2021.

What will be the new ticker symbols for Concord Acquisition Corp II's common stock and warrants?

The Class A common stock will trade under the ticker symbol CNDA, and the warrants will trade under CNDA.WS.

What is the significance of separating the trading of units?

Separating the trading of units allows investors more flexibility and can enhance trading volume and liquidity.