SCHEDULE 13G/A: Sandia Investment Management and Timothy Sichler Report Zero Beneficial Ownership in Concord Acquisition Corp II

Sandia Investment Management LP and Timothy J. Sichler have filed an amended Schedule 13G, indicating they no longer beneficially own any Class A Common Stock of Concord Acquisition Corp II as of March 31, 2025.

Summary

• This document is an Amendment No. 2 to a Schedule 13G filing with the U.S. Securities and Exchange Commission.
• The reporting persons are Sandia Investment Management LP and Timothy J. Sichler.
• The filing pertains to the Class A Common Stock of Concord Acquisition Corp II, with CUSIP Number 20607U108.
• As of the event date of March 31, 2025, both Sandia Investment Management LP and Timothy J. Sichler report 0.00 shares beneficially owned, representing 0% of the class.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose or with the effect of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: This is a neutral, factual regulatory filing (Schedule 13G Amendment) indicating zero beneficial ownership by the reporting entities. It contains no financial performance data, strategic updates, or forward-looking statements that would suggest a positive or negative sentiment for the issuer or the reporting parties.

Positives

• The filing provides clear and transparent disclosure regarding the beneficial ownership status of Sandia Investment Management LP and Timothy J. Sichler in Concord Acquisition Corp II.
• The certification explicitly states that the securities were not acquired or held for the purpose of changing or influencing control of the issuer, which can alleviate concerns about activist investor actions from these parties.

Negatives

• The reporting persons, Sandia Investment Management LP and Timothy J. Sichler, no longer hold any beneficial ownership (0 shares, 0%) in Concord Acquisition Corp II's Class A Common Stock.

Risks

• The document explicitly states that the securities were not acquired or held for the purpose of changing or influencing control of the issuer, mitigating concerns about activist investor actions from these specific parties.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the future outlook of Concord Acquisition Corp II or the reporting entities.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing is a routine disclosure for institutional investors and individuals whose beneficial ownership of a company's stock changes, specifically when they fall below the 5% reporting threshold or cease to hold shares. For Concord Acquisition Corp II, a Special Purpose Acquisition Company (SPAC), changes in significant shareholder positions can be noteworthy, though this filing indicates a complete absence of beneficial ownership by the reporting entities.

Stakeholder Impact

• Shareholders: No direct impact on existing shareholders from this filing itself, as it merely reports a change in ownership status for specific entities. It indicates that Sandia Investment Management LP and Timothy J. Sichler no longer hold shares, which could slightly reduce institutional ownership concentration if they previously held a significant stake.

Key Dates

Keywords

SEC filing, Schedule 13G, beneficial ownership, Concord Acquisition Corp II, Sandia Investment Management LP, Timothy J. Sichler, Class A Common Stock, SPAC, institutional investor