Circle Internet Financial, the company that operates the USD Coin stablecoin, is ending its current attempt to go public though a special purpose-acquisition merger, the company said Monday. Circle still plans to pursue a public stock offering, it said.
Circle and Concord Acquisition , a so-called blank-check company, had a deadline of Dec. 10 to close their deal to go public through a SPAC. The investment firm Atlas Merchant Capital raised $276 million for Concord Acquisition’s December 2020 initial public offering.