Events.com, an event management platform that uses artificial intelligence announced on Tuesday that it has signed a merger agreement with Concord Acquisition Corp II (CNDA) to go public. This agreement values Events.com at $314 million before any investments.
After the merger, the new public company will be called 'Events.com' and plans to be listed on the New York Stock Exchange under the ticker symbol 'RSVP,' pending approval.
Events.com Co-founders Mitch Thrower and Stephen Partridge will continue as CEO and President/COO, respectively, while Bob Bellack, co-founder of Cars.com and Apartments.com, will be joining as CRO.
Events.com provides a full software platform for event organizers and plans to introduce an AI feature for event discovery in 2025. The proposed merger indicates a total enterprise value of $399 million and includes a $100 million Share Subscription Facility from Gem Global Yield SCS.
The funds from the deal will help Events.com develop new products, pursue strategic acquisitions, finalize existing acquisition commitments, launch the Events.com Discover platform, and enhance the company's AI and machine learning capabilities to improve user experiences.
Following the merger, the current shareholders of Events.com will maintain a majority stake in the combined company. Co-founders Mitch Thrower and Stephen Partridge are expected to remain as CEO and President/COO, respectively.
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