Wed, Feb 19, 11:04 AM (26 days ago)
**Concord Acquisition Corp II (CNDA)** reported a fiscal year-end net loss of $766,076 for 2024, with total operating expenses of $2,150,265. The company generated $3,400,717 in interest income from its Trust Account, contributing to a total income of $3,400,717, partially offset by a change in the fair value of its Capital Contribution Note and warrants. As of December 31, 2024, Concord held $23,355,048 in its Trust Account after significant redemptions totaling $132,667,234. The company is pursuing a merger with **Events.com, Inc.** The proposed transaction is expected to be completed by March 3, 2025, following stockholder approvals. A deferred underwriting commission of $9,803,413 was waived by underwriters, resulting in recognized income of $397,281. Concord's financial condition is precarious, with an excise tax liability of $2,463,780 and limited cash resources outside the Trust Account. The company is classified as an emerging growth company and has not yet secured third-party financing. Risks include potential delisting from exchanges, competition for acquisition targets, and reliance on key personnel. The management's strategic focus remains on completing the merger with Events.com, leveraging its extensive network and operational experience to enhance value for shareholders.