Concord Acquisition Corp III Announces the Separate Trading of Its Class A Common Stock and Warrants Commencing on or About December 27, 2021

Rhea-AI Summary

Concord Acquisition Corp III (NYSE: CNDB.U) announced that investors can separately trade Class A common stock and warrants from its initial public offering starting December 27, 2021. The units sold in the IPO, completed on November 8, 2021, will continue to trade under the ticker CNDB.U. Separated Class A shares and warrants will trade under the symbols CNDB and CNDB.WS, respectively. Citigroup Global Markets Inc. and Cowen and Company, LLC acted as joint book-running managers for the offering.

Positive

• Ability for investors to trade shares and warrants separately may enhance liquidity.
• Trading under distinct symbols (CNDB, CNDB.WS) can attract more attention and facilitate trading.

Negative

• None.

New York, Dec. 22, 2021 /PRNewswire/ -- Concord Acquisition Corp III (NYSE: CNDB.U) (the "Company") today announced that holders of the units sold in the Company's initial public offering completed on November 8, 2021 may elect to separately trade the shares of Class A common stock and warrants included in the units commencing on or about December 27, 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 "CNDB.U," and the Class A common stock and warrants that are separated will trade on the NYSE under the symbols "CNDB" and "CNDB.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 III
Jeff Tuder
jeff@tremsoncapital.com

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SOURCE Concord Acquisition Corp III

FAQ

When can I trade CNDB and CNDB.WS?

You can begin trading Class A common stock and warrants under the symbols CNDB and CNDB.WS on or about December 27, 2021.

What was the purpose of the units sold in the initial public offering of CNDB.U?

The units sold were part of Concord Acquisition Corp III's initial public offering, completed on November 8, 2021.

Who managed the initial public offering of Concord Acquisition Corp III?

Citigroup Global Markets Inc. and Cowen and Company, LLC served as joint book-running managers.

What will continue to trade under the ticker symbol CNDB.U?

The units that are not separated will continue to trade under the ticker CNDB.U.