Concord Acquisition Corp II

What they do

Concord Acquisition Corp II is a special purpose acquisition company (SPAC) formed to effect a merger or similar business combination with one or more businesses. It has identified Events.com, Inc. as its target and has entered into a Merger Agreement on August 26, 2024. The company has no operating revenues and holds funds in a trust account for the purpose of consummating the transaction.

Revenue drivers

• Trust account interest income — The company holds proceeds from its IPO and private placements in a trust account; interest earned on these funds is the only source of income, but balance has been reduced to $99,263 after redemptions.

Recent performance

For the year ended December 31, 2025, the company reported net income of $556,003, compared to a net loss of $766,076 in 2024. Operating cash flow was negative $928,608 in 2025, and negative $1.5 million in 2024. As of June 30, 2026, total assets were $331,470, total liabilities were $7.9 million, and shareholder equity was negative $7.7 million. Cash and equivalents were $123,573 at that date.

Strategy

The company's strategy is to complete its initial business combination with Events.com, Inc., a California-based events management platform. Management plans to use cash from the trust account, proceeds from the IPO and private placements, and potentially debt or equity to fund the transaction. The merger is subject to stockholder approvals from both companies and customary closing conditions. The company has extended its deadline to complete a business combination to December 31, 2026, as approved by stockholders in December 2025.

Risks

• Failure to complete business combination — If the proposed merger with Events.com is not completed by the extended deadline, the company will be forced to liquidate and return trust account funds, likely resulting in no return for stockholders.
• Limited capital and liquidity — With only $123,573 in cash and negative shareholder equity, the company may be unable to fund continued operations or the transaction without additional financing.
• Delisting and OTC trading — The company's securities were delisted from NYSE American in 2024 and now trade on OTC markets, which may reduce liquidity and marketability.
• Excise tax refund uncertainty — The company has applied for a refund of excise taxes paid on share redemptions, but is not able to determine if the refund will be received under final IRS regulations.

Outlook

Management expects to continue incurring significant costs in pursuing the acquisition of Events.com. The company cannot assure that it will successfully complete the business combination. If the transaction closes, the company will become an operating business in the events technology sector. If it does not close, the company will likely cease operations and liquidate.