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In a recent 8-K filing with the Securities and Exchange Commission, Concord Acquisition Corp II, a special purpose acquisition company with a market capitalization of $99 million, announced an extension to its deadline for completing a business combination. The extension moves the original date from March 3, 2025, to December 31, 2025.
This decision was made during a special meeting of stockholders on February 28, 2025. The meeting saw a significant turnout with approximately 82% of eligible shares represented. The amendment to the company’s charter was approved with 6,863,295 votes for and 658,227 votes against.
Alongside the extension, the filing disclosed that shareholders holding 2,191,753 shares of Class A common stock exercised their right to redeem their shares. The redemption price was approximately $10.84 per share, totaling around $23.8 million. Following these redemptions, the trust account was left with approximately $92,709.
Concord Acquisition Corp II is listed on the OTC markets with its units (CNDAU), Class A common stock (CNDA), and warrants (CNDAW) trading on the OTC Pink, OTCQX, and OTCQB, respectively.
The company, which is classified under the "Blank Checks" industry, has not disclosed any specific targets for its business combination but now has until the end of 2025 to finalize a transaction.
The information provided in this article is based on a press release statement.
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