Concord Acquisition Corp III (CNDB) Signs LOI
by Marlena Haddad on 2023-10-25 at 9:24am

Concord Acquisition Corp III (NYSE:CNDB) has signed a non-binding letter of intent (LOI) to combine with a well-established semiconductor supplier.

The SPAC has not yet disclosed the name of the target, but mentioned that it has received non-binding LOIs from investors to provide financing in an amount sufficient to support the closing of the proposed merger.

Although the terms of the deal have not yet been decided, the parties do not expect to have a minimum cash closing condition.

Concord III raised $351 million in gross proceeds from its November 2021 IPO, but saw 88.3% of this redeemed during a May meeting that pushed its completion deadline to November 8. However, it has another extension meeting coming up on November 6 in hopes of gaining shareholder approval to push its deadline back to August 2024. The SPAC currently has approximately $42.1 million in its trust account.

It originally set out to combine with an established business in the financial services and financial technology sectors, including payments, enterprise software, and data analytics. Concord III is led by CEO Jeff Tuder, CFO Michele Cito, and Chairman of the Board Bob Diamond.

Since there is no guarantee that this LOI will make it to the definitive agreement stage, Concord III will stay in SPACInsider’s searching column for now.

 

Concord Acquisition Corp III (CNDB) Signs LOI
Recent Posts
by Nicholas Alan Clayton on 2025-07-01 at 7:51pm

Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....

by Nicholas Alan Clayton on 2025-07-01 at 7:47pm

Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....

by Nicholas Alan Clayton on 2025-07-01 at 7:19pm

1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...

by Nicholas Alan Clayton on 2025-07-01 at 3:49pm

D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...

by Nicholas Alan Clayton on 2025-07-01 at 11:33am

Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved