In July of 2021, Circle announced it would go public via a SPAC—a process that involves merging with a shell company that has raised money to acquire a private company. The deal, which would have made Circle one of a handful of publicly traded crypto companies, has been delayed repeatedly. Now the deal is dead.
In a Monday morning announcement, Circle and its would-be SPAC partner, an entity called Concord Acquisition Corp., described the development as a "mutual termination." The chief executives of both firms issued complementary statements, suggesting the decision to end the drawn-out deal was amicable.
