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Benzinga
Benzinga
Business
Chris Katje

USD Coin Founder Circle Doubles Valuation Ahead Of SPAC Merger

V SPAC Circle NYSE

The start of 2022 has seen SPAC mergers called off and the valuation of some deals lowered. On Thursday, a previously announced SPAC merger announced an increased valuation. Here's what investors need to know. 

What Happened: Circle announced the termination of an existing merger agreement with Concord Acquisition Corp (NYSE:CND). The two parties announced a new merger that values the company at $9 billion, doubling the previous valuation of $4.5 billion.

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