Events.com, a leading event management platform, announced a $314 million merger with Concord Acquisition Corp. II on Tuesday, marking a bold step toward going public. The merger, which involves three legal firms, is set to take the company to the New York Stock Exchange (NYSE) under the ticker “RSVP” by the first quarter of 2025.
Events.com and Concord $314M Merger : A Strategic Combination
La Jolla-based Events.com, known for its event management software, expects to gain around $50 million from the merger through Concord’s trust and private financing. With this fresh capital, the company aims to enhance its revenue streams, expand its product lineup, and invest heavily in artificial intelligence (AI) innovations.
Events.com CEO Mitch Thrower emphasized the strategic significance of the merger: “This combination allows us to seize opportunities in the $936 billion event sector while helping people create lasting memories and driving scalable, high-margin revenue.”
The deal values Events.com at $314 million, and Thrower, along with co-founder Stephen Partridge, will remain at the helm of the company. Joining them is Bob Bellack, co-founder of Cars.com, as the new chief revenue officer.
SPAC Strategy and Market Shifts
Events.com’s merger with Concord follows a path well-trodden by companies aiming for a quicker public market entry through special purpose acquisition companies (SPACs). Concord, a SPAC formed by Atlas Merchant Capital, first traded in September 2021 after a $250 million IPO. Bob Diamond, Concord’s chairman, noted that Events.com’s vision and leadership made it the ideal partner for the deal.
