Events.com Secures Upsized $200 Million Share Subscription Facility from Global Emerging Markets (GEM) to Fuel Market Expansion
Events.com, a leading event management platform, has expanded its Share Subscription Facility (SSF) with Global Emerging Markets (GEM) to $200 million, doubling the initial commitment of $100 million. This increased funding will support Events.com's global expansion and technological advancements. The company recently announced a merger with Concord Acquisition Corp II (NYSE: CNDA), valuing Events.com at a pre-money equity value of $314 million and an implied pro forma enterprise value of $399 million.
The merger is expected to result in Events.com becoming a publicly traded company under the ticker symbol "RSVP". This increased commitment from GEM is seen as a significant endorsement of Events.com's trajectory and its potential to redefine the events industry through advanced technology.
Events.com, una delle principali piattaforme di gestione eventi, ha ampliato la sua Share Subscription Facility (SSF) con Global Emerging Markets (GEM) a 200 milioni di dollari, raddoppiando l'impegno iniziale di 100 milioni di dollari. Questo finanziamento aumentato sosterrà l'espansione globale di Events.com e i progressi tecnologici. L'azienda ha recentemente annunciato una fusione con Concord Acquisition Corp II (NYSE: CNDA), valutando Events.com a un valore di capitale pre-money di 314 milioni di dollari e un valore aziendale pro forma implicito di 399 milioni di dollari.
La fusione dovrebbe portare Events.com a diventare una società quotata in borsa con il simbolo
Events.com, una plataforma de gestión de eventos líder, ha expandido su Instalación de Suscripción de Acciones (SSF) con Global Emerging Markets (GEM) a 200 millones de dólares, duplicando el compromiso inicial de 100 millones. Este aumento de financiación apoyará la expansión global de Events.com y los avances tecnológicos. La compañía anunció recientemente una fusión con Concord Acquisition Corp II (NYSE: CNDA), valorando a Events.com con un valor de capital pre-money de 314 millones de dólares y un valor empresarial pro forma implícito de 399 millones de dólares.
Se espera que la fusión resulte en que Events.com se convierta en una empresa que cotiza en bolsa bajo el símbolo
Events.com은 선도적인 이벤트 관리 플랫폼으로, 글로벌 이머징 마케팅(GEM)과 함께 그 지분 구독 시설(SSF)을 2억 달러로 확장했습니다, 이는 초기 1억 달러의 약정을 두 배로 늘린 것입니다. 이 자금 증가는 Events.com의 글로벌 확장과 기술 발전을 지원할 것입니다. 회사는 최근 콘코드 인수 주식회사 II(NYSE: CNDA)와의 합병을 발표했으며, 이로 인해 Events.com의 기업 가치는 3억 1,400만 달러의 pre-money 가치를 갖고, 암시된 프로 포마 기업 가치는 3억 9,900만 달러에 달합니다.
이번 합병을 통해 Events.com은
Events.com, une plateforme de gestion d'événements de premier plan, a étendu sa Share Subscription Facility (SSF) avec Global Emerging Markets (GEM) à 200 millions de dollars, doublant ainsi l'engagement initial de 100 millions de dollars. Ce financement accru soutiendra l'expansion mondiale d'Events.com et ses avancées technologiques. L'entreprise a récemment annoncé une fusion avec Concord Acquisition Corp II (NYSE: CNDA), valorisant Events.com à une valeur de capital pré-money de 314 millions de dollars et une valeur d'entreprise pro forma implicite de 399 millions de dollars.
On s'attend à ce que cette fusion permette à Events.com de devenir une société cotée en bourse sous le symbole ticker
Events.com, eine führende Plattform für Veranstaltungsmanagement, hat seine Share Subscription Facility (SSF) mit Global Emerging Markets (GEM) auf 200 Millionen Dollar erweitert, damit wird das ursprüngliche Engagement von 100 Millionen Dollar verdoppelt. Diese erhöhte Finanzierung wird die globale Expansion von Events.com und technologische Fortschritte unterstützen. Das Unternehmen hat kürzlich eine Fusion mit Concord Acquisition Corp II (NYSE: CNDA) bekannt gegeben, die Events.com mit einem Pre-Money-Eigenkapitalwert von 314 Millionen Dollar und einem implizierten pro forma Unternehmenswert von 399 Millionen Dollar bewertet.
Die Fusion wird voraussichtlich dazu führen, dass Events.com unter dem Tickersymbol
- Expansion of Share Subscription Facility (SSF) with GEM from $100 million to $200 million
- Merger with Concord Acquisition Corp II (NYSE: CNDA) valued at $314 million pre-money equity value
- Implied pro forma enterprise value of $399 million
- Expected to become a publicly traded company under ticker symbol "RSVP"
- None.
Insights
The upsized
The upcoming merger with Concord Acquisition Corp II, valued at a pre-money equity of
Events.com's expanded funding and impending public listing position it to capitalize on the growing global events industry. The company's focus on helping organizers "manage, market and monetize" events aligns with increasing demand for comprehensive event management solutions. The emphasis on gathering "actionable data and revenue at scale" suggests a strategic approach to monetization in the digital age.
The merger with Concord and increased SSF could enable Events.com to pursue an aggressive acquisition strategy, potentially consolidating smaller players in the fragmented event management market. This approach, combined with organic growth, may accelerate the company's market share expansion. However, investors should monitor execution risks associated with rapid scaling and integration of potential acquisitions, as well as the competitive landscape in the event technology sector.
Events.com's focus on "redefining the Events industry through advanced technology" indicates a commitment to innovation in a sector ripe for digital transformation. The increased funding could accelerate the development of cutting-edge features, potentially including AI-driven event recommendations, advanced analytics, or blockchain-based ticketing solutions.
The company's platform, which enables discovery, interaction and transactions for "unforgettable experiences," suggests a comprehensive approach to event management. This holistic strategy could create a sticky ecosystem for both event organizers and attendees. However, the tech landscape is rapidly evolving and Events.com will need to maintain a robust R&D pipeline to stay ahead. Investors should monitor the company's ability to attract and retain top tech talent, as well as its pace of innovation compared to competitors in the event tech space.
Doubling Down on Innovation: Increased Commitment from GEM to Propel Events.com's Global Reach and Technological Advancements
"The increased commitment from GEM is a milestone for us," said Mitch Thrower, Co-founder and CEO of Events.com. "This funding will empower us to help more event organizers worldwide manage, market and monetize their event and help people around the world discover, interact and transact with unforgettable experiences -- while gathering actionable data and revenue at scale."
"While innovative engineering is essential, achieving market leadership requires ample resources." said Stephen Partridge, President and COO of Events.com "This doubling of GEM's commitment to
"The increased GEM facility provides Events.com with added dry powder that will allow them to capitalize on what we believe to be a large acquisition opportunity upon the expected closing of our transaction in Q1," said Jeff Tuder, CEO of
Events.com recently announced its signing of a definitive agreement to merge with Concord Acquisition Corp II (NYSE: CNDA) ("
Additional information about the Proposed Business Combination, including a copy of the Agreement and Plan of Merger, by and among CNDA, Concord Merger Sub, Inc., and the Company, dated as of August 26, 2024 (the "Merger Agreement"), has been provided in a Current Report on Form 8-K filed by CNDA with the
The Events.com investor presentation can be found here. The announcement of the merger can be found here.
About Events.com
Events.com powers a two-sided marketplace and platform that helps passionate individuals create, promote, discover, and enjoy events. Events.com's platform helps event organizers seamlessly execute their events and allows event goers to discover, interact, and transact with the events they love. The Company offers a robust ecosystem that supports millions of event creators worldwide, catering to various interests. From the prestigious All-In Summit, the world's leading podcast for business, technology, and investing, to the vibrant 100,000-person Renaissance Festival in
For additional information, please visit events.com
Create your event at Events.com – Online Event Registration Software: https://events.com
The most meaningful moments in our lives, powered by Events.com. – YouTube: https://www.youtube.com/watch?v=5gcW83dpIOc
Events.com (@eventsdotcom) - Instagram photos and videos: https://www.instagram.com/eventsdotcom/
About GEM:
Global Emerging Markets (GEM) is a
About Concord Acquisition Corp II (CNDA)
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. It is sponsored by Concord Sponsor Group II LLC, an entity affiliated with Atlas Merchant Capital LLC, an investment firm that offers debt and equity investment strategies, seeking long-term value through differentiated expertise in financial services and credit markets. For additional information, please visit cnda.concordacquisitioncorp.com
About Atlas Merchant Capital
Atlas Merchant Capital LLC, founded in 2013 by Bob Diamond and David Schamis, is an alternative asset management company with approximately
Art and Logos
You may download the logos from Events.com here.
You may download the logos from
Forward-Looking Statements
Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "strategy," "future," "opportunity," "may," "target," "should," "will," "would," "will be," "will continue," "will likely result," "preliminary," or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, CNDA's, Events.com's, or their respective management teams' expectations concerning the outlook for their or Events.com's business, productivity, plans, and goals for future operational improvements and capital investments, operational performance, future market conditions, or economic performance and developments in the capital and credit markets and expected future financial performance, including expected net proceeds, expected additional funding, the percentage of redemptions of CNDA's public stockholders, growth prospects and outlook of Events.com's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of Events.com's projects, as well as any information concerning possible or assumed future results of operations of Events.com. Forward-looking statements also include statements regarding the expected benefits of the Proposed Business Combination. The forward-looking statements are based on the current expectations of the respective management teams of Events.com and CNDA, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the Proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of CNDA's securities; (ii) the risk that the Proposed Business Combination may not be completed by CNDA's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by CNDA; (iii) the failure to satisfy the conditions to the consummation of the Proposed Business Combination, including the adoption of the Merger Agreement by the stockholders of CNDA and Events.com and the receipt of certain regulatory approvals; (iv) market risks; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vi) the effect of the announcement or pendency of the Proposed Business Combination on Events.com's business relationships, performance, and business generally; (vii) risks that the Proposed Business Combination disrupts current plans of Events.com and potential difficulties in its employee retention as a result of the Proposed Business Combination; (viii) the outcome of any legal proceedings that may be instituted against Events.com or CNDA related to the Merger Agreement or the Proposed Business Combination; (ix) failure to realize the anticipated benefits of the Proposed Business Combination; (x) the inability to maintain the listing of CNDA's securities or to meet listing requirements and maintain the listing of PubCo's securities on the NYSE American; (xi) the risk that the price of PubCo's securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which Events.com plans to operate, variations in performance across competitors, changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business, and changes in the combined capital structure; (xii) the inability to implement business plans, forecasts, and other expectations after the completion of the Proposed Business Combination, identify and realize additional opportunities, and manage its growth and expanding operations; (xiii) the risk that Events.com may not be able to successfully develop its assets, including expanding the product offerings and implementing the acquisition plan (xiv) the risk that Events.com will be unable to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xv) political and social risks of operating in the
Important Information for Investors and Shareholders
In connection with the Proposed Business Combination, CNDA intends to file with the SEC the Registration Statement, which will include a prospectus with respect to PubCo's securities to be issued in connection with the Proposed Business Combination and a proxy statement to be distributed to holders of CNDA's common stock in connection with CNDA's solicitation of proxies for the vote by CNDA's stockholders with respect to the Proposed Business Combination and other matters to be described in the Registration Statement (the "Proxy Statement"). After the SEC declares the Registration Statement effective, CNDA plans to file the definitive Proxy Statement with the SEC and to mail copies to stockholders of CNDA as of a record date to be established for voting on the Proposed Business Combination. This press release does not contain all the information that should be considered concerning the Proposed Business Combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that PubCo or CNDA may file with the SEC. Before making any investment or voting decision, investors and security holders of CNDA and Events.com are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Proposed Business Combination as they become available because they will contain important information about, Events.com, CNDA, PubCo and the Proposed Business Combination.
Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by PubCo and CNDA through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by PubCo and CNDA may be obtained free of charge from CNDA's website at cnda.concordacquisitioncorp.com or by directing a request to Jeff Tuder, Chief Executive Office, 477 Madison Avenue
Participants in the Solicitation
Events.com, CNDA, PubCo and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from CNDA's stockholders in connection with the Proposed Business Combination. For more information about the names, affiliations and interests of CNDA's directors and executive officers, please refer to CNDA's annual report on Form 10-K filed with the SEC on March 1, 2024, and Registration Statement, Proxy Statement and other relevant materials filed with the SEC in connection with the Proposed Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of CNDA's stockholders generally, will be included in the Registration Statement and the Proxy Statement, when they become available. Stockholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement carefully, when they become available, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation
This document shall not constitute a "solicitation" as defined in Section 14 of the Securities Exchange Act of 1934, as amended. This document shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Proposed Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.
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SOURCE Events.com
FAQ
What is the new value of Events.com's Share Subscription Facility with GEM?
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When is the merger between Events.com and Concord Acquisition Corp II (NYSE: CNDA) expected to close?
