Concord Acquisition III, the third blank check company formed by Atlas Merchant Capital targeting financial services and FinTech, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
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 is an Operating Partner at Atlas Merchant Capital 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.
Concord Acquisition III plans to list on the NYSE under the symbol CNDB.U. Citi and Cowen acted as joint bookrunners on the deal.
