Concord Acquisition Corp Confirms Funding to Extend Period to Consummate Initial Business Combination | News
NEW YORK, June 7, 2022 /PRNewswire/ — Harmony Acquisition Corp (NYSE: CND) (the “Enterprise”) today introduced that Circle Net Fiscal Limited, a personal firm restricted by shares incorporated in Eire (“Circle”) has deposited $2,760,000 into the Firm’s have confidence in account for its public stockholders, symbolizing $.10 for each public unit marketed in the Firm’s original general public providing, which enables the Organization to lengthen the time period of time it has to consummate its preliminary business enterprise mixture by 6 months from June 10, 2022 to December 10, 2022 (the “Extension”), as permitted underneath the Company’s amended and restated certificate of incorporation.
The Extension was funded by the proceeds from a promissory observe (the “Note”) issued by the Corporation to Circle or its registered assigns or successors in curiosity. Circle entered into a transaction arrangement with the Firm, among the other individuals, on February 16, 2022 (the “Transaction Arrangement”). The Be aware is non-curiosity bearing and payable in income upon the closing of the Company’s preliminary business enterprise combination. In the celebration that the transactions contemplated by the Transaction Arrangement are not consummated for any purpose, no payment will be due below the Be aware and the principal equilibrium of the Note will be forgiven.
About Concord Acquisition Corp
Harmony Acquisition Corp is a distinctive intent acquisition organization formed for the objective of entering into a merger, funds stock exchange, asset acquisition, stock invest in, reorganization or comparable organization mix with just one or extra corporations in the monetary providers or money technological innovation industries. The Company’s sponsor is an affiliate of Atlas Merchant Capital LLC, an investment decision firm that features debt and equity financial investment approaches, looking for long-term value by differentiated know-how in economical providers and credit rating marketplaces. Concord lifted $276 million in its initial public offering in December 2020 and is outlined on the NYSE below the symbol “CND”.
About Circle
Circle is a world-wide financial technological innovation company that enables organizations of all measurements to harness the energy of digital currencies and general public blockchains for payments, commerce and economical purposes around the world. Circle is the issuer of USD Coin (USDC), just one of the speediest growing dollar electronic currencies powering generally-on world-wide-web-native commerce and payments. Nowadays, Circle’s transactional services, business enterprise accounts, and platform APIs are providing rise to a new technology of money companies and commerce programs that maintain the assure of boosting world financial prosperity for all by the frictionless trade of monetary price. Additionally, Circle operates SeedInvest, a top startup fundraising system in the U.S.
Crucial Data and In which to Find It
A whole description of the proposed transactions (collectively, the “Transactions”) is provided in the registration assertion on Sort S-4 (No. 333-258582) submitted with the Securities and Trade Commission (the “SEC”) by the Circle World-wide-web Finance Public Limited Business (the “Blended Entity”), as amended, that consists of a proxy statement for the stockholders of the Business that also constitutes a prospectus of the Put together Entity. The Put together Entity, Circle and the Company urge investors, stockholders and other interested individuals to study the preliminary proxy statement/prospectus as well as other files filed with the SEC simply because these files will include significant details about the Enterprise, Circle and the Transactions. After the registration statement is declared helpful, the definitive proxy statement/prospectus to be incorporated in the registration assertion will be mailed to stockholders of the Firm as of a file day to be founded for voting on the Transactions. Stockholders will also be in a position to receive a duplicate of the proxy statement/prospectus, without demand, by directing a ask for to: Concord Acquisition Corp, 477 Madison Avenue, 22nd Floor, New York, NY 10022. The preliminary and definitive proxy statement/prospectus to be included in the registration statement can also be attained, with no cost, at the SEC’s website (www.sec.gov).
Contributors in the Solicitation
The Combined Entity, Circle and the Firm and their respective administrators and government officers could be viewed as contributors in the solicitation of proxies with respect to the proposed transactions beneath the principles of the SEC. Info about the administrators and executive officers of the Enterprise is set forth in the Company’s Annual Report on Kind 10-K for the fiscal year finished December 31, 2021, which was filed with the SEC on March 4, 2022 (the “2021 Annual Report”). Data with regards to the people who could, underneath the principles of the SEC, be deemed individuals in the solicitation of the stockholders in link with the proposed transactions is set forth in the proxy assertion/prospectus submitted with the SEC. These paperwork can be received absolutely free of charge from the resources indicated over.
Non-Solicitation
This conversation is not a proxy statement or solicitation of a proxy, consent or authorization with regard to any securities or in respect of the proposed enterprise blend and shall not constitute an offer you to market or a solicitation of an offer you to purchase any securities nor shall there be any sale of securities in any condition or jurisdiction in which this kind of provide, solicitation, or sale would be unlawful prior to registration or qualification beneath the securities regulations of any these state or jurisdiction. No offer you of securities shall be produced other than by suggests of a prospectus assembly the prerequisites of the Securities Act.
Forward-Wanting Statements
This press release incorporates statements that represent “ahead-hunting statements”. Forward-hunting statements are matter to various disorders, quite a few of which are past the command of the Corporation, together with people set forth in the Risk Things area of the 2021 Once-a-year Report and in other files of the Organization filed, or to be submitted, with the SEC. Copies of these files are offered on the SEC’s site, www.sec.gov. The Enterprise undertakes no obligation to update these statements for revisions or changes after the date of this launch, other than as necessary by law.
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Harmony Acquisition Corp
Jeff Tuder
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Source Concord Acquisition Corp
