Concord Acquisition Corp II filed its Form 10-Q for the quarterly period ended September 30, 2026, disclosing financial results and balance sheet data for the SPAC as it continues to operate with a minimal Class A share count.

Key Highlights

  • Net income of $406,534 for the three months ended September 30, 2026, compared to net income of $1,296,701 in the same period of 2025, according to the filing.
  • Net income of $1,466,831 for the nine months ended September 30, 2026, versus $1,758,744 for the nine months ended September 30, 2025, the company disclosed.
  • Only 8,550 shares of Class A common stock were issued and outstanding as of November 12, 2026, alongside 7,002,438 shares of Class B common stock.
  • Total stockholders' deficit narrowed to $(4,350,648) at September 30, 2026, from $(8,746,603) at December 31, 2025, per the filing.
  • Reversal of excise tax attributable to redemption of common stock of $2,925,376 was recorded in the third quarter of 2026, according to the filing.
  • Cash held in Trust Account stood at $101,225 at September 30, 2026, compared to $99,373 at December 31, 2025.
  • Class A shares subject to possible redemption carried a redemption value of $14.40 per share at September 30, 2026, down from $14.84 at December 31, 2025.

Concord Acquisition Corp II Financial Position and Q3 2026 Operating Results

Concord Acquisition Corp II (OTCID:CNDA), a Delaware-incorporated special purpose acquisition company headquartered at 477 Madison Avenue, New York, NY, filed its quarterly report covering the period ended September 30, 2026. The company disclosed net income of $406,534 for the three months ended September 30, 2026, driven in part by a $489,365 favorable change in the fair value of its Capital Contribution Note and a reversal of excise tax interest and penalties of $673,790. Partially offsetting those items was a $589,515 unfavorable change in the fair value of the warrant liability.

For the nine-month period ended September 30, 2026, the company reported net income of $1,466,831. Operating costs for that period totaled $537,138, compared to $1,088,261 in the comparable prior-year period. The filing noted total assets of $722,370 at September 30, 2026, against total liabilities of $4,949,921, resulting in a total stockholders' deficit of $(4,350,648). The deficit improved materially from $(8,746,603) at December 31, 2025, largely due to the third-quarter reversal of $2,925,376 in excise tax previously attributed to common stock redemptions, as well as favorable movements in the fair value of the Capital Contribution Note, which declined from $1,956,685 to $493,242 over the nine-month period.

The company described itself as a shell company under Rule 12b-2 of the Exchange Act and classified itself as a non-accelerated filer, smaller reporting company, and emerging growth company. Accounts payable and accrued expenses remained elevated at $2,710,672, and amounts due to related parties stood at $665,047. The deferred underwriter's commission was unchanged at $343,120. Basic and diluted net income per share for both Class A and Class B common stock was $0.06 for Q3 2026 and $0.21 for the nine months ended September 30, 2026.

What Was Disclosed

Concord Acquisition Corp II disclosed its condensed consolidated financial statements for the quarter and nine months ended September 30, 2026, showing net income, an improved stockholders' deficit, a significant excise tax reversal, and minimal Class A share count with 8,550 shares outstanding.