Magnetar Financial Exits Concord Acquisition Corp II Position

TL;DR

**Magnetar Financial just dumped all its Concord Acquisition Corp II shares.**

AI Summary

Magnetar Financial LLC, a Delaware-based investment firm, has filed an exit amendment (SC 13G/A) for its holdings in Concord Acquisition Corp II (CUSIP 20607U108) as of December 31, 2023. This filing indicates that Magnetar Financial LLC, along with its associated group members David J. Snyderman, Magnetar Capital Partners LP, and Supernova Management LLC, no longer beneficially owns any shares of Concord Acquisition Corp II, having previously held shared voting and dispositive power. This matters to investors because a significant institutional holder has completely exited its position, which could signal a loss of confidence or a strategic portfolio reallocation.

Why It Matters

This exit filing signals that a major institutional investor, Magnetar Financial LLC, has sold all its shares in Concord Acquisition Corp II, potentially indicating a lack of future growth prospects or a shift in investment strategy.

Risk Assessment

Risk Level: medium — The complete exit of an institutional investor like Magnetar Financial LLC could signal underlying issues or a lack of confidence in Concord Acquisition Corp II's future.

Analyst Insight

A smart investor would investigate the reasons behind Magnetar Financial LLC's complete exit from Concord Acquisition Corp II, considering it a potential red flag and a reason to re-evaluate their own position or investment thesis.

Key Numbers

• 0 — Sole Voting Power (Magnetar Financial LLC now holds no sole voting power over Concord Acquisition Corp II shares.)
• 0 — Shared Voting Power (Magnetar Financial LLC now holds no shared voting power over Concord Acquisition Corp II shares.)
• 0 — Sole Dispositive Power (Magnetar Financial LLC now holds no sole dispositive power over Concord Acquisition Corp II shares.)

Key Players & Entities

• Magnetar Financial LLC (company) — the reporting person exiting its position
• Concord Acquisition Corp II (company) — the subject company whose shares were sold
• David J. Snyderman (person) — a group member associated with Magnetar Financial LLC
• Magnetar Capital Partners LP (company) — a group member associated with Magnetar Financial LLC
• Supernova Management LLC (company) — a group member associated with Magnetar Financial LLC
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• Concord Acquisition Corp II's stock price may experience downward pressure or increased volatility due to the institutional exit. (Concord Acquisition Corp II) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Concord Acquisition Corp II following Magnetar's exit. (Concord Acquisition Corp II) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• tm243910d16_sc13ga.htm (SC 13G/A) — 115KB
• tm243910d16_ex99-1.htm (EX-99.1) — 11KB
• tm243910d16_ex99-2.htm (EX-99.2) — 5KB
• 0001104659-24-006472.txt ( ) — 132KB

(a) Name

Item 1(a) Name of Issuer. CONCORD ACQUISITION CORP II (the “Issuer”)

(b) Address

Item 1(b) Address of Issuer’s Principal Executive Offices. 477 MADISON AVENUE NEW YORK, NY 10022

(a) Name

Item 2(a) Name of Person Filing. This statement is filed on behalf of each of the following person (collectively, the “Reporting Persons”): i) Magnetar Financial LLC (“Magnetar Financial”); ii) Magnetar Capital Partners LP (Magnetar Capital Partners”); iii) Supernova Management LLC (“Supernova Management”); and iv) David J. Snyderman (“Mr. Snyderman”). Magnetar Financial serves as the investment adviser to the Magnetar Funds, and as such, Magnetar Financial exercises voting and investment power over the Shares held for the Magnetar Funds’ accounts. Magnetar Capital Partners serves as the sole member and parent holding company of Magnetar Financial. Supernova Management is the general partner of Magnetar Capital Partners. The manager of Supernova Management is Mr. Snyderman.

(b) Address

Item 2(b) Address of Principal Business Office. The address of the principal business office of each of Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman is 1603 Orrington Avenue, 13 th Floor, Evanston, Illinois 60201.

(c) Place

Item 2(c) Place of Organization. i) Magnetar Financial is a Delaware limited liability company; ii) Magnetar Capital Partners is a Delaware limited partnership; iii) Supernova Management is a Delaware limited liability company; and iv) Mr. Snyderman is a citizen of the United

(d) Title

Item 2(d) Title of Class of Securities. Common Stock

(e) CUSIP

Item 2(e) CUSIP Number. 20607U108

Reporting

Item 3 Reporting Person. (e) An investment adviser in accordance with §240.13d–1(b)(1)(ii)(E) (g) A parent holding company or control person in accordance with §240.13d–1(b)(1)(ii)(G)

(a) Amount

Item 4(a) Amount Beneficially Owned: As of December 31, 2023, each of Magnetar Financial, Magnetar Capital Partners, Supernova Management and Mr. Snyderman held 0 Shares. The Shares held by the Magnetar Funds represent approximately 0.00% of the total number of Shares outstanding (calculated pursuant to Rule 13d-3(d)(1)(i)) of the outstanding shares of the Issuer).

(b) Percent

Item 4(b) Percent of Class: (i) As of December 31, 2023, each of Reporting Persons were deemed to be the beneficial owner constituting approximately 0.00% of the total number of Shares outstanding (based upon the information provided by the Issuer in its Form 10-Q filed with the SEC on November 7, 2023, there were approximately 14,699,019 Shares outstanding as of November 6, 2023). Item4(c) Number of Shares of which such person has: Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote : 0 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 0

Ownership

Item 5 Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [X].

Ownership

Item 6 Ownership of More Than Five Percent on Behalf of Another Person. This Item 6 is not applicable.

Identification and Classification of the Subsidiary which Acquired

Item 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company. This Item 7 is not applicable.

Identification and Classification of Members of the Group

Item 8 Identification and Classification of Members of the Group. This Item 8 is not applicable.

Notice of Dissolution of Group

Item 9 Notice of Dissolution of Group. This Item 9 is not applicable.

Certification

Item 10 Certification. By signing below the Reporting Persons certifies that, to the best of their knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: January 25, 2024 magnetar financial llc By: Magnetar Capital Partners LP, its Sole Member By: Supernova Management LLC, its General Partner By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC Date: January 25, 2024 magnetar capital partners LP By: Supernova Management LLC, its General Partner By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC Date: January 25, 2024 supernova management llc By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman, Manager Date: January 25, 2024 DAVID J. SNYDERMAN By: /s/ Hayley A. Stein Name: Hayley A. Stein Title: Attorney-in-fact for David J. Snyderman EXHIBIT INDEX Exhibit No. Description 99.1 Joint Filing Agreement, dated as of January 25, 2024, among the Reporting Persons. 99.2 Power of Attorney, dated as of December 22, 2022 filed by the Reporting Persons on January 25, 2024.

View Full Filing

View this SC 13G/A filing on SEC EDGAR