Boston-based Circle Internet Financial Ltd. will not go public through its revised deal with special purpose acquisition company Concord Acquisition Corp.
The deal was called off Monday, the company said. Rachel Busch, a spokesperson for Circle, noted in an email that Circle is still committed to go public, but the timeline of the process is yet to be decided.
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"We will be taking steps to continue our journey to go public as soon as practicable," she wrote.
As for why the deal is not moving forward, Busch said that the merger could not be consummated before the expiration of the transaction agreement.
