Events.com Secures Upsized $200 Million Share Subscription Facility from Global Emerging Markets (GEM) to Fuel Market Expansion

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Doubling Down on Innovation: Increased Commitment from GEM to Propel Events.com's Global Reach and Technological Advancements

LA JOLLA, Calif. and NEW YORK, Sept. 12, 2024 /PRNewswire/ -- Events.com (the "Company"), an industry-leading event management platform, today announced the expansion of its Share Subscription Facility ("SSF") with Global Emerging Markets ("GEM"), to $200 million. This increase by GEM from their initial commitment of $100 million reflects a significant endorsement of Events.com's trajectory and the Company's capacity to redefine the Events industry through advanced technology.

Events.com (PRNewsfoto/Events.com/Gateway Group)
Events.com (PRNewsfoto/Events.com/Gateway Group)

"The increased commitment from GEM is a milestone for us," said Mitch Thrower, Co-founder and CEO of Events.com. "This funding will empower us to help more event organizers worldwide manage, market and monetize their event and help people around the world discover, interact and transact with unforgettable experiences -- while gathering actionable data and revenue at scale."

"While innovative engineering is essential, achieving market leadership requires ample resources." said Stephen Partridge, President and COO of Events.com "This doubling of GEM's commitment to $200M is a key to our buy, build and partner growth strategy, but even more importantly will help amplify our brand and is a big vote of confidence."

"The increased GEM facility provides Events.com with added dry powder that will allow them to capitalize on what we believe to be a large acquisition opportunity upon the expected closing of our transaction in Q1," said Jeff Tuder, CEO of Concord. "We appreciate GEM's continued support as we proceed toward this milestone."

Events.com recently announced its signing of a definitive agreement to merge with Concord Acquisition Corp II (NYSE: CNDA) ("Concord"), marking a significant milestone in Events.com's path to become a publicly traded company. The proposed business combination with Concord is valued at a pre-money equity value of $314 million, with an implied pro forma enterprise value of $399 million. The proposed business combination (the "Proposed Business Combination") is subject to customary closing conditions, including regulatory and stockholder approvals. The combined public company ("PubCo") is expected to be named "Events.com" and to list its common stock under the new ticker symbol "RSVP," subject to the approval of its listing application.