Concord Acquisition Corp II Navigates Transition Following NYSE American Delisting Notice
Concord Acquisition Corp II (NYSE: CNDA) has received a delisting notice from NYSE American due to not completing a business combination within the required 36-month timeframe. The company plans to appeal this decision and seek a review from the Listings Qualifications Panel. In the meantime, CNDA intends to list its Securities on the OTC Markets during the NYSE American suspension. The company and its sponsor are also exploring a potential listing on Nasdaq as an alternative. Despite this setback, Concord remains committed to its public market goals and enhancing shareholder value.
Concord Acquisition Corp II (NYSE: CNDA) ha ricevuto una notifica di esclusione dal NYSE American a causa del mancato completamento di una combinazione aziendale entro il termine richiesto di 36 mesi. L'azienda prevede di fare appello a questa decisione e di richiedere una revisione al Listings Qualifications Panel. Nel frattempo, CNDA intende quotare i suoi titoli sui mercati OTC durante la sospensione del NYSE American. L'azienda e il suo sponsor stanno anche esplorando una potenziale quotazione su Nasdaq come alternativa. Nonostante questo contrattempo, Concord rimane impegnata nei suoi obiettivi di mercato pubblico e nel miglioramento del valore per gli azionisti.
Concord Acquisition Corp II (NYSE: CNDA) ha recibido un aviso de exclusión del NYSE American debido a no completar una combinación empresarial dentro del plazo requerido de 36 meses. La compañía planea apelar esta decisión y solicitar una revisión del Listings Qualifications Panel. Mientras tanto, CNDA tiene la intención de listar sus valores en los Mercados OTC durante la suspensión del NYSE American. La empresa y su patrocinador también están explorando una posible cotización en Nasdaq como alternativa. A pesar de este revés, Concord se mantiene comprometida con sus objetivos en el mercado público y con el aumento del valor para los accionistas.
Concord Acquisition Corp II (NYSE: CNDA)는 36개월의 필수 기간 내에 사업 결합을 완료하지 못한 이유로 NYSE American에서 상장 폐지 통지를 받았습니다. 회사는 이 결정에 대해 항소하고 Listings Qualifications Panel에 검토를 요청할 계획입니다. 그동안 CNDA는 NYSE American의 중단 기간 동안 OTC Markets에 증권을 상장할 예정입니다. 회사와 스폰서는 또한 대안으로 Nasdaq 상장 가능성을 탐색하고 있습니다. 이러한 좌절에도 불구하고 Concord는 공공 시장 목표 및 주주 가치를 증대시키기 위해 최선을 다하고 있습니다.
Concord Acquisition Corp II (NYSE: CNDA) a reçu un avis de radiation de NYSE American en raison de l'absence de réalisation d'une combinaison d'affaires dans le délai requis de 36 mois. L'entreprise prévoit de faire appel de cette décision et de demander un examen au Listings Qualifications Panel. En attendant, CNDA prévoit de lister ses titres sur les marchés OTC pendant la suspension de NYSE American. L'entreprise et son sponsor explorent également une éventuelle introduction en bourse sur le Nasdaq comme alternative. Malgré ce revers, Concord reste attachée à ses objectifs sur le marché public et à l'amélioration de la valeur pour les actionnaires.
Concord Acquisition Corp II (NYSE: CNDA) hat eine Delisting-Mitteilung von NYSE American erhalten, da das Unternehmen innerhalb des erforderlichen Zeitrahmens von 36 Monaten keine Geschäftskombination abgeschlossen hat. Das Unternehmen plant, gegen diese Entscheidung Berufung einzulegen und eine Überprüfung durch das Listings Qualifications Panel zu beantragen. In der Zwischenzeit beabsichtigt CNDA, während der Suspension durch NYSE American seine Wertpapiere an den OTC Markets zu listen. Das Unternehmen und sein Sponsor prüfen auch eine mögliche Listung an der Nasdaq als Alternative. Trotz dieses Rückschlags bleibt Concord seinen Zielen auf dem öffentlichen Markt und der Steigerung des Shareholder-Values verpflichtet.
- Exploring alternative listing on Nasdaq
- Temporary listing on OTC Markets to maintain trading
- Appealing NYSE American delisting decision
- Received delisting notice from NYSE American
- Failed to complete business combination within 36-month requirement
- Potential loss of NYSE American listing
Alternative Listing with Nasdaq Considered
The Company has the right to request a review of this delisting determination by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange. In line with its strategic plans, the Company intends to pursue this review and will seek to list its Securities on the OTC Markets for trading during the suspension on NYSE American. This transition is expected to be temporary as the Company remains hopeful that its appeal for an extension will be granted by the NYSE American. Simultaneously, the Company and its sponsor are actively exploring a listing on the Nasdaq.
Concord remains focused on the public process, continuing to work diligently to achieve its listing goals and enhance shareholder value.
About Concord Acquisition Corp II
Concord Acquisition Corp II is a special purpose acquisition company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the financial services or financial technology industries.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as "believes," "expects," "intends," "plans," "estimates," "assumes," "may," "should," "will," "seeks," or other similar expressions. Such statements may include, but are not limited to, statements regarding the Company's plan to request a review of the delisting determination and the Company's plan to list the Securities on the OTC Markets. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties that may cause actual results to differ significantly. The Company does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.
Company Contact:
Concord Acquisition Corp II
Jeff Tuder
jeff@tremsoncapital.com
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SOURCE Concord Acquisition Corp II
FAQ
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