Latest Breaking News On - Circle internet financial inc - Page 7 : comparemela.com

SHARE Cryptocurrency and blockchain services provider Circle Internet Financial Inc. is the latest to jump on the SPAC bandwagon as the company announced today that it plans to go public through a special-purpose acquisition company merger. The deal will see Circle merge with Concord Acquisition Corp., a SPAC currently listed on the New York Stock Exchange and values the company at $4.5 billion. The merger will provide Circle with more than $1.1 billion in gross proceeds, including $415 million in private investment in public equity. PIPE participants include Marshall Wave, Fidelity Management, Adage Capital, accounts advised by ARK Investment and Third Point. Founded in 2013, Circle initially started as a consumer finance company utilizing blockchain technology but has since evolved into cryptocurrency investment, exchange and payments service.

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