Circle SPAC Termination News: Circle Internet Financial, the company behind stablecoin USDC, on Monday officially announced it was terminating its special purpose acquisition company (SPAC) with Concord Acquisition. The business combination was proposed with an initial announcement in July 2021. The companies said the termination of the business was marked with approval by the Board of Directors at Circe and Concord. The deal’s termination resulted due as the Securities and Exchange Commission (SEC) is yet to declare the business registration statement effective, they said.
Circle SPAC – The Timeout
The Circle management expressed disappointment over the timing out of the proposed transaction. Jeremy Allaire, co-founder and CEO of Circle, said however that Circle’s strategy would continue to remain becoming a public company.
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