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Matheson advises Circle on its announced transaction to go public through a de-SPAC business combination with Concord Acquisition Corp

A cross-departmental Matheson team led by Fergus Bolster with fellow Partners, David Jones, Susanne McMenamin, John Ryan, Aidan Fahy, Vahan Tchrakian, Kate McKenna and Pat English, together with team members Thomas Burke, Anna O’Carroll, Audrey Kean, Grainne Boyle, Cillian Dervan, Melissa McCloy, Naomi Douglas, Matthew Moreland, Jade Du Berry, Grace Neary and Chloe Power is pleased to have advised Circle Internet Financial Limited on its announced transaction to go public through a business combination with Concord Acquisition Corp (NYSE: CND), a publicly traded special purpose acquisition company (or SPAC).

Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the principal operator of USD Coin (USDC), which has become the fastest growing, regulated, fully reserved dollar digital currency. 

Under the terms of the agreement, a new Irish holding company will acquire both Concord and Circle and become a publicly-traded company, expected to trade on the NYSE under the symbol “CRCL”. The transaction values Circle at an enterprise value of $4.5 billion and is anticipated to close in Q4.

Our leading team of corporate and tax lawyers has consistently been at the forefront of advising on the largest and most complex redomiciliation, inversion, M&A and capital markets transactions involving Irish registered companies listed on national US markets, and brings unparalleled experience, expertise and practical knowledge of how to navigate the territory where Irish and US securities regulation, tax and company law and governance intersect.

Matheson is standing Irish legal and tax counsel to approximately one third of large and mid-cap Irish registered companies listed on the NYSE and Nasdaq.