Concord Acquisition Corp II SEC 10-Q Report

Concord Acquisition Corp II, a blank check company focused on mergers and acquisitions, has released its Form 10-Q report for the quarter ending June 30, 2025. The report provides a comprehensive overview of the company's financial performance and business activities, highlighting significant improvements in cost management and profitability, as well as key developments in its proposed business combination with Events.com, Inc.

Financial Highlights

• Operating Costs: $358,705 for the three months ended June 30, 2025, reflecting a decrease from $565,464 in the same period in 2024, indicating improved cost management.
• Net Income: $1,453,017 for the three months ended June 30, 2025, compared to $1,106,895 for the same period in 2024, showing a significant increase in profitability.
• Net Income Per Share, Class A common stock subject to possible redemption: $0.21 for the three months ended June 30, 2025, up from $0.06 in the same period in 2024, indicating higher earnings per share.
• Net Income Per Share, Class B common stock: $0.21 for the three months ended June 30, 2025, up from $0.06 in the same period in 2024, reflecting increased earnings per share for Class B stockholders.

Business Highlights

• Business Operations: Concord Acquisition Corp II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. As of June 30, 2025, the company had not commenced any operations and was focused on identifying a target company for a business combination.
• Proposed Business Combination: On August 26, 2024, Concord Acquisition Corp II entered into a merger agreement with Events.com, Inc. The transaction involves merging a wholly-owned subsidiary of Concord with Events.com, making Events.com a subsidiary of Concord. The merger consideration includes shares of New CND common stock, and the transaction is expected to close with a name change to Events.com, Inc.
• Earnout Structure: The merger agreement includes an earnout provision where 4,000,000 additional shares of New CND common stock will be issued to Events.com stockholders if certain stock price targets are met within seven years post-closing.
• Interim Financing: Concord and Events.com are cooperating to raise capital through the sale of equity securities or securities convertible into equity securities. Events.com is required to pay Concord a portion of the funds raised to cover transaction expenses.
• Regulatory and Listing Changes: Concord's Class A common stock, Units, and warrants were transferred from the New York Stock Exchange to NYSE American LLC in May 2024. However, due to not consummating a business combination within the required timeframe, the securities were delisted and began trading on OTC Markets in October 2024.
• Future Outlook: Concord has until December 31, 2025, to complete a business combination. If unable to do so, the company will undergo mandatory liquidation. The company is currently negotiating with Events.com to amend the merger agreement to extend the closing date, which is crucial for avoiding termination of the agreement.

SEC Filing: Concord Acquisition Corp II [ CNDA ] - 10-Q - Aug. 04, 2025