Concord Acquisition III, the third blank check company formed by Atlas Merchant Capital targeting financial services and FinTech, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Concord Acquisition III would command a market value of $313 million.
The company is led by Chairman Bob Diamond, the CEO and Founding Partner of Atlas Merchant Capital and former CEO of Barclays, and CEO Jeff Tuder, who has served as an Operating Partner at Atlas Merchant Capital since September 2020 and previously founded Tremson Capital Management. Concord Acquisition III intends to target a business in the financial services and financial technology sectors, including payments, enterprise software, and data analytics. The group's other SPACs include Concord Acquisition (CND.U) and Concord Acquisition II (CNDA.U).
Concord Acquisition III was founded in 2021 and plans to list on the NYSE under the symbol CNDB.U. Cowen is the sole bookrunner on the deal.
