Doubling Down on Innovation: Increased
Commitment from GEM to Propel Events.com's Global Reach and
Technological Advancements
LA
JOLLA, Calif. and NEW
YORK, Sept. 12, 2024 /PRNewswire/
-- Events.com (the "Company"), an industry-leading
event management platform, today announced the expansion of its
Share Subscription Facility ("SSF") with Global Emerging Markets
("GEM"), to $200 million. This
increase by GEM from their initial commitment of $100 million reflects a significant endorsement
of Events.com's trajectory and the Company's capacity to redefine
the Events industry through advanced technology.
"The increased commitment from GEM is a milestone for us," said
Mitch Thrower, Co-founder and CEO of
Events.com. "This funding will empower us to help more event
organizers worldwide manage, market and monetize their event and
help people around the world discover, interact and transact with
unforgettable experiences -- while gathering actionable data and
revenue at scale."
"While innovative engineering is essential, achieving market
leadership requires ample resources." said Stephen Partridge, President and COO of
Events.com "This doubling of GEM's commitment to $200M is a key to our buy, build and partner
growth strategy, but even more importantly will help amplify our
brand and is a big vote of confidence."
"The increased GEM facility provides Events.com with added dry
powder that will allow them to capitalize on what we believe to be
a large acquisition opportunity upon the expected closing of our
transaction in Q1," said Jeff Tuder,
CEO of Concord. "We appreciate
GEM's continued support as we proceed toward this milestone."
Events.com recently announced its signing of a
definitive agreement to merge with Concord Acquisition Corp
II (NYSE: CNDA) ("Concord"), marking a significant milestone in
Events.com's path to become a publicly traded company. The proposed
business combination with Concord
is valued at a pre-money equity value of $314 million, with an
implied pro forma enterprise value of $399 million. The
proposed business combination (the "Proposed Business Combination")
is subject to customary closing conditions, including regulatory
and stockholder approvals. The combined public company ("PubCo") is
expected to be named "Events.com" and to list its common stock
under the new ticker symbol "RSVP," subject to the approval
of its listing application.
Additional information about the Proposed Business Combination,
including a copy of the Agreement and Plan of Merger, by and among
CNDA, Concord Merger Sub, Inc., and the Company, dated as of
August 26, 2024 (the "Merger
Agreement"), has been provided in a Current Report on Form 8-K
filed by CNDA with the U.S. Securities and Exchange Commission (the
"SEC") and available at www.sec.gov.
The Events.com investor presentation can be
found here. The announcement of the merger can be
found here.
About Events.com
Events.com powers a two-sided
marketplace and platform that helps passionate individuals create,
promote, discover, and enjoy events. Events.com's platform helps
event organizers seamlessly execute their events and allows event
goers to discover, interact, and transact with the events they
love. The Company offers a robust ecosystem that supports millions
of event creators worldwide, catering to various interests. From
the prestigious All-In Summit, the world's leading podcast for
business, technology, and investing, to the vibrant 100,000-person
Renaissance Festival in Florida,
the exclusive Club Getaway featured on Bravo, the event calendar on
NewYork.com, the transformative Archangel Summit, and movie
experiences at the iconic Mayfair Theatre in Ottawa—Events.com
technology is the driving force behind unforgettable moments
worldwide.
For additional information, please visit events.com
Create your event at Events.com – Online Event Registration
Software: https://events.com
The most meaningful moments in our lives, powered by Events.com.
– YouTube: https://www.youtube.com/watch?v=5gcW83dpIOc
Events.com (@eventsdotcom) - Instagram photos and videos:
https://www.instagram.com/eventsdotcom/
About GEM:
Global Emerging Markets (GEM) is a
$3.4 billion alternative investment
group with operations in 72 countries. GEM's investment vehicles
provide the group and its investors with a diverse portfolio of
asset classes that span the global private investing spectrum,
including Small-Mid Cap Management Buyouts, Private Investments in
Public Equities (PIPEs), and select venture investments.
About Concord Acquisition Corp II (CNDA)
Concord
Acquisition Corp II is a special purpose acquisition company 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 in the financial
services or financial technology industries. It is sponsored by
Concord Sponsor Group II LLC, an entity affiliated with Atlas
Merchant Capital LLC, an investment firm that offers debt and
equity investment strategies, seeking long-term value through
differentiated expertise in financial services and credit markets.
For additional information, please visit
cnda.concordacquisitioncorp.com
About Atlas Merchant Capital
Atlas Merchant Capital
LLC, founded in 2013 by Bob Diamond
and David Schamis, is an alternative
asset management company with approximately $1.3 billion in assets under management as of
December 31, 2023, and over
$3 billion in capital raised through
its fund vehicles and co-investments. Atlas invests globally in
compelling opportunities, particularly within the financial
services sector, through a diverse range of funds, including
private equity, credit opportunities, and SPAC-focused public
equity funds. The firm's investment strategy is rooted in a
long-term, partnership-based approach, leveraging its deep
operating and technical expertise. Atlas's executive team brings
decades of experience from top-tier global financial institutions,
including Barclays Capital, Cerberus Capital Management, Citigroup,
J.C. Flowers & Co, and Fortress Investment Group. For
additional information, please visit
https://www.atlasmerchantcapital.com.
Art and Logos
You may download the logos from
Events.com here.
You may download the logos from Concord and Atlas here.
Forward-Looking Statements
Certain statements included
in this press release are not historical facts but are
forward-looking statements. All statements other than statements of
historical facts contained in this press release are
forward-looking statements. Any statements that refer to
projections, forecasts or other characterizations of future events
or circumstances, including any underlying assumptions, are also
forward-looking statements. In some cases, you can identify
forward-looking statements by words such as "estimate," "plan,"
"project," "forecast," "intend," "expect," "anticipate," "believe,"
"seek," "strategy," "future," "opportunity," "may," "target,"
"should," "will," "would," "will be," "will continue," "will likely
result," "preliminary," or similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters, but the absence of these words does not mean
that a statement is not forward-looking. Forward-looking statements
include, without limitation, CNDA's, Events.com's, or their
respective management teams' expectations concerning the outlook
for their or Events.com's business, productivity, plans, and goals
for future operational improvements and capital investments,
operational performance, future market conditions, or economic
performance and developments in the capital and credit markets and
expected future financial performance, including expected net
proceeds, expected additional funding, the percentage of
redemptions of CNDA's public stockholders, growth prospects and
outlook of Events.com's operations, individually or in the
aggregate, including the achievement of project milestones,
commencement and completion of commercial operations of certain of
Events.com's projects, as well as any information concerning
possible or assumed future results of operations of Events.com.
Forward-looking statements also include statements regarding the
expected benefits of the Proposed Business Combination. The
forward-looking statements are based on the current expectations of
the respective management teams of Events.com and CNDA, as
applicable, and are inherently subject to uncertainties and changes
in circumstance and their potential effects. There can be no
assurance that future developments will be those that have been
anticipated. These forward-looking statements involve a number of
risks, uncertainties or other assumptions that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements. These
risks and uncertainties include, but are not limited to, (i) the
risk that the Proposed Business Combination may not be completed in
a timely manner or at all, which may adversely affect the price of
CNDA's securities; (ii) the risk that the Proposed Business
Combination may not be completed by CNDA's business combination
deadline and the potential failure to obtain an extension of the
business combination deadline if sought by CNDA; (iii) the failure
to satisfy the conditions to the consummation of the Proposed
Business Combination, including the adoption of the Merger
Agreement by the stockholders of CNDA and Events.com and the
receipt of certain regulatory approvals; (iv) market risks; (v) the
occurrence of any event, change or other circumstance that could
give rise to the termination of the Merger Agreement; (vi) the
effect of the announcement or pendency of the Proposed Business
Combination on Events.com's business relationships, performance,
and business generally; (vii) risks that the Proposed Business
Combination disrupts current plans of Events.com and potential
difficulties in its employee retention as a result of the Proposed
Business Combination; (viii) the outcome of any legal proceedings
that may be instituted against Events.com or CNDA related to the
Merger Agreement or the Proposed Business Combination; (ix) failure
to realize the anticipated benefits of the Proposed Business
Combination; (x) the inability to maintain the listing of CNDA's
securities or to meet listing requirements and maintain the listing
of PubCo's securities on the NYSE American; (xi) the risk that the
price of PubCo's securities may be volatile due to a variety of
factors, including changes in the highly competitive industries in
which Events.com plans to operate, variations in performance across
competitors, changes in laws, regulations, technologies, natural
disasters or health epidemics/pandemics, national security
tensions, and macro-economic and social environments affecting its
business, and changes in the combined capital structure; (xii) the
inability to implement business plans, forecasts, and other
expectations after the completion of the Proposed Business
Combination, identify and realize additional opportunities, and
manage its growth and expanding operations; (xiii) the risk that
Events.com may not be able to successfully develop its assets,
including expanding the product offerings and implementing the
acquisition plan (xiv) the risk that Events.com will be unable to
raise additional capital to execute its business plan, which many
not be available on acceptable terms or at all; (xv) political and
social risks of operating in the U.S. and other countries; (xvi)
the operational hazards and risks that Events.com faces; and (xvii)
the risk that additional financing in connection with the Proposed
Business Combination may not be raised on favorable terms. The
foregoing list is not exhaustive, and there may be additional risks
that neither CNDA nor Events.com presently knows or that CNDA and
Events.com currently believe are immaterial. You should carefully
consider the foregoing factors, any other factors discussed in this
press release and the other risks and uncertainties described in
the "Risk Factors" section of CNDA's Annual Report on Form 10-K for
the year ended December, 31, 2023, which was filed with the SEC on
March 1, 2024, the risks to be
described in the registration statement on Form S-4 to be filed by
CNDA with the SEC in connection with the Proposed Business
Combination (the "Registration Statement"), which will include a
preliminary proxy statement/prospectus, and those discussed and
identified in filings made with the SEC by CNDA and PubCo from time
to time. Events.com and CNDA caution you against placing undue
reliance on forward-looking statements, which reflect current
beliefs and are based on information currently available as of the
date a forward-looking statement is made. Forward-looking
statements set forth in this press release speak only as of the
date of this press release. None of Events.com, CNDA, or PubCo
undertakes any obligation to revise forward-looking statements to
reflect future events, changes in circumstances, or changes in
beliefs. In the event that any forward-looking statement is
updated, no inference should be made that Events.com, CNDA, or
PubCo will make additional updates with respect to that statement,
related matters, or any other forward-looking statements. Any
corrections or revisions and other important assumptions and
factors that could cause actual results to differ materially from
forward-looking statements, including discussions of significant
risk factors, may appear, up to the consummation of the Proposed
Business Combination, in CNDA's or PubCo's public filings with the
SEC, which are or will be (as appropriate) accessible at
www.sec.gov, and which you are advised to review carefully.
Important Information for Investors and
Shareholders
In connection with the Proposed Business
Combination, CNDA intends to file with the SEC the Registration
Statement, which will include a prospectus with respect to PubCo's
securities to be issued in connection with the Proposed Business
Combination and a proxy statement to be distributed to holders of
CNDA's common stock in connection with CNDA's solicitation of
proxies for the vote by CNDA's stockholders with respect to the
Proposed Business Combination and other matters to be described in
the Registration Statement (the "Proxy Statement"). After the SEC
declares the Registration Statement effective, CNDA plans to file
the definitive Proxy Statement with the SEC and to mail copies to
stockholders of CNDA as of a record date to be established for
voting on the Proposed Business Combination. This press release
does not contain all the information that should be considered
concerning the Proposed Business Combination and is not a
substitute for the Registration Statement, Proxy Statement or for
any other document that PubCo or CNDA may file with the SEC. Before
making any investment or voting decision, investors and security
holders of CNDA and Events.com are urged to read the Registration
Statement and the Proxy Statement, and any amendments or
supplements thereto, as well as all other relevant materials filed
or that will be filed with the SEC in connection with the Proposed
Business Combination as they become available because they will
contain important information about, Events.com, CNDA, PubCo and
the Proposed Business Combination.
Investors and security holders will be able to obtain free
copies of the Registration Statement, the Proxy Statement and all
other relevant documents filed or that will be filed with the SEC
by PubCo and CNDA through the website maintained by the SEC at
www.sec.gov. In addition, the documents filed by PubCo and CNDA may
be obtained free of charge from CNDA's website at
cnda.concordacquisitioncorp.com or by directing a request to
Jeff Tuder, Chief Executive Office,
477 Madison Avenue New York, New
York 10022; Tel: (212) 883-4330. The information contained
on, or that may be accessed through, the websites referenced in
this press release is not incorporated by reference into, and is
not a part of, this press release.
Participants in the Solicitation
Events.com, CNDA, PubCo and their respective directors, executive
officers and other members of management and employees may, under
the rules of the SEC, be deemed to be participants in the
solicitations of proxies from CNDA's stockholders in connection
with the Proposed Business Combination. For more information about
the names, affiliations and interests of CNDA's directors and
executive officers, please refer to CNDA's annual report on Form
10-K filed with the SEC on March 1,
2024, and Registration Statement, Proxy Statement and other
relevant materials filed with the SEC in connection with the
Proposed Business Combination when they become available.
Additional information regarding the participants in the proxy
solicitation and a description of their direct and indirect
interests, which may, in some cases, be different than those of
CNDA's stockholders generally, will be included in the Registration
Statement and the Proxy Statement, when they become available.
Stockholders, potential investors and other interested persons
should read the Registration Statement and the Proxy Statement
carefully, when they become available, before making any voting or
investment decisions. You may obtain free copies of these documents
from the sources indicated above.
No Offer or Solicitation
This document shall not
constitute a "solicitation" as defined in Section 14 of the
Securities Exchange Act of 1934, as amended. This document shall
not constitute an offer to sell or exchange, the solicitation of an
offer to buy or a recommendation to purchase, any securities, or a
solicitation of any vote, consent or approval, nor shall there be
any sale, issuance or transfer of securities in any jurisdiction in
which such offer, solicitation or sale may be unlawful under the
laws of such jurisdiction. No offering of securities in the
Proposed Business Combination shall be made except by means of a
prospectus meeting the requirements of the Securities Act of 1933,
as amended, or an exemption therefrom.
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SOURCE Events.com
