Concord Acquisition Corp Announces the Separate Trading of Its Class A Common Stock and Warrants

NEW YORK, Jan. 25, 2021 /PRNewswire/ — Concord Acquisition Corp (NYSE: CND.U) (the “Company”) today announced that holders of the units sold in the Company’s initial public offering of 27,600,000 units completed on December 10, 2020 may elect to separately trade the shares of Class A common stock and warrants included in the units commencing on or about January 28, 2021. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on the New York Stock Exchange (“NYSE”) under the ticker symbol “CND.U,” and the Class A common stock and warrants that are separated will trade on the NYSE under the symbols “CND” and “CND WS,” respectively.

The Company was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a merger opportunity in any industry or sector, it intends to capitalize on the ability of its management team and sponsor to identify, acquire and manage a business in the financial services and financial technology sectors, including payments, enterprise software, and data analytics.

Cowen and Company, LLC served as sole book-running manager of the offering, and AmeriVet Securities served as co-manager.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds of the Company’s initial public offering. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.