Circle goes public in USD 4.5 bln blank-check deal

Thursday 8 July 2021 15:10 CET | News

Global fintech Circle has announced it would go public through a merger with a blank-check company in a deal that values it at USD 4.5 billion.

The merger with Concord Acquisition Corp is expected to fetch USD 691 million in proceeds for the combined entity, Circle said.

Institutional investors Marshall Wace, Fidelity Management & Research Co and accounts advised by ARK Investment Management have agreed to invest in USD 415 million PIPE (private investment in public equity) financing. After the merger, Circle will be listed on the New York Stock Exchange under the symbol CRCL.

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Keywords: merger, investment, digital currency, DeFi, digital payments
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies