425: Events.com Set to Go Public on NYSE Through Merger with Concord Acquisition Corp II

Events.com is merging with Concord Acquisition Corp II to become a publicly traded company on the NYSE, aiming to fuel growth and innovation in the event management sector.

Summary

• Events.com is merging with Concord Acquisition Corp II (CNDA) in a deal valuing Events.com at a pre-money equity value of $314 million.
• The merger will result in Events.com becoming a publicly listed company on the NYSE, under the ticker symbol RSVP.
• The transaction aims to provide Events.com with capital to expand its product offerings, enhance AI-driven personalization, pursue acquisitions, and launch marketing campaigns.
• Events.com has secured a $100 million share subscription facility from Gem Global Yield LLC SCS.
• The combined company will be majority-owned by Events.com's existing shareholders.
• Mitch Thrower and Stephen Partridge will continue as CEO and President/COO, respectively, with Bob Bellack joining as CRO.

Sentiment

Score: 8

Explanation: The document presents a positive outlook for Events.com, highlighting its growth potential, strategic partnerships, and experienced management team. The transaction is expected to provide the company with the resources to expand its business and capitalize on the growing event management market.

Positives

• The merger provides Events.com with access to public markets and additional capital.
• The company has a strategic growth plan focused on increasing revenue streams and expanding product offerings.
• Events.com is developing advanced AI-driven personalization initiatives.
• The company has a strong leadership team with experience in the event management and technology sectors.
• The company has a category defining domain name.

Risks

• The merger is subject to customary closing conditions, including regulatory and stockholder approvals.
• The company is an early-stage company with a history of losses and expects to incur significant losses for the foreseeable future.
• The company may not be able to achieve its expected business milestones or launch products on its anticipated timelines.
• The COVID-19 pandemic has had a material negative impact on the company's business and operating results.
• The company faces intense competition in the event space.
• The company may be unsuccessful in potential future acquisition endeavors and may not be successful in integrating past acquisitions into its business.
• The company may fail to adequately protect or enforce its intellectual property rights or face potential liability and expense for legal claims alleging that the operation of its business infringes intellectual property rights of third parties.

Future Outlook

Events.com plans to use the proceeds from the transaction to expand its product offerings, enhance AI-driven personalization, pursue strategic acquisitions, and launch marketing campaigns. The company also plans to launch its Events.com Discover platform in 2025.

Management Comments

• Mitch Thrower, CEO of Events.com, stated that the combination with Concord will enhance their capabilities to capitalize on the $936 billion event sector.
• Stephen Partridge, President/COO of Events.com, expressed pride in the team's accomplishments and readiness for the next phase of growth.
• Jeff Tuder, CEO of Concord, stated that Events.com has a compelling offering and tremendous potential.
• Bob Diamond, Founding Partner and Chief Executive Officer of Atlas Merchant Capital and Chairman of Concord, stated that Events.com was a perfect fit for Concord.

Industry Context

The announcement highlights the ongoing consolidation and innovation within the event management software industry, with Events.com positioning itself to capitalize on the growing demand for end-to-end event solutions and AI-driven personalization.

Comparison to Industry Standards

• The document references Gannett's acquisition of Cars.com, valuing the Cars.com domain name at $872M, to highlight the value of Events.com's category-defining domain name.
• The document references the acquisition of Apartments.com for $585M by CoStar to highlight the experience of the CFO.
• The document references the sale of Active Network for $1.05B to highlight the experience of the CEO.

Stakeholder Impact

• Shareholders of Events.com will benefit from the increased access to capital and liquidity.
• Employees of Events.com will benefit from the company's growth and expansion.
• Customers of Events.com will benefit from the company's enhanced product offerings and AI-driven personalization.
• Suppliers of Events.com will benefit from the company's increased demand for their products and services.

Next Steps

• CNDAs and Events.coms stockholders need to approve the proposed transaction.
• Regulatory approvals need to be obtained.
• The combined company will list its common stock on the New York Stock Exchange under the new ticker symbol RSVP, subject to the approval of its listing application.

Key Dates