Chain Bridge I Q2 2024: $1.3M Assets, $0.53M Net Loss

TL;DR

Chain Bridge I Q2 2024: $1.3M assets, $1.3M liabilities, $0.53M net loss. Still a blank check company.

AI Summary

Chain Bridge I filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $1.30 million and total liabilities of $1.30 million. It also disclosed a net loss of $0.53 million for the quarter. The company's primary business is as a blank check company.

Why It Matters

This filing provides insight into the financial health and operational status of Chain Bridge I, a blank check company, which is crucial for investors considering its future business combination.

Risk Assessment

Risk Level: medium — As a blank check company, Chain Bridge I faces inherent risks related to its ability to identify and complete a business combination.

Key Numbers

• $1.30M — Total Assets (As of June 30, 2024)
• $1.30M — Total Liabilities (As of June 30, 2024)
• $0.53M — Net Loss (For the quarter ending June 30, 2024)
• $5.75M — Additional Paid-In Capital (As of June 30, 2024)

Key Players & Entities

• Chain Bridge I (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $1.30 million (dollar_amount) — Total assets
• $1.30 million (dollar_amount) — Total liabilities
• $0.53 million (dollar_amount) — Net loss for the quarter

FAQ

Key Financial Figures

• $0.0001 — et Class A ordinary shares, par value $0.0001 per share CBRG The Nasdaq Capital M
• $1 m — its outstanding warrants was less than $1 million, the Company was no longer in com
• $1 million — of its outstanding warrants of at least $1 million (the "Warrant Notice"). The Warrant Not

Filing Documents

• cbrgu-20240630x10q.htm (10-Q) — 1207KB
• cbrgu-20240630xex31d1.htm (EX-31.1) — 13KB
• cbrgu-20240630xex31d2.htm (EX-31.2) — 13KB
• cbrgu-20240630xex32d1.htm (EX-32.1) — 6KB
• cbrgu-20240630xex32d2.htm (EX-32.2) — 6KB
• 0001410578-24-001498.txt ( ) — 6770KB
• cbrgu-20240630.xsd (EX-101.SCH) — 60KB
• cbrgu-20240630_cal.xml (EX-101.CAL) — 23KB
• cbrgu-20240630_def.xml (EX-101.DEF) — 309KB
• cbrgu-20240630_lab.xml (EX-101.LAB) — 444KB
• cbrgu-20240630_pre.xml (EX-101.PRE) — 393KB
• cbrgu-20240630x10q_htm.xml (XML) — 1112KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Interim Financial Statements Condensed Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 1 Unaudited Condensed Statements of Operations for the three and six months ended June 30, 2024 and 2023 2 Unaudited Condensed Statements of Changes in Shareholders' Deficit for the three and six months ended June 30, 2024 and 2023 3 Unaudited Condensed Statements of Cash Flows for the six months ended June 30, 2024 and 2023 4 Notes to Unaudited Condensed Interim Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35 i Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Interim Financial Statements

Item 1. Condensed Interim Financial Statements CHAIN BRIDGE I CONDENSED BALANCE SHEETS June 30, December 31, 2024 2023 (unaudited) Assets Current assets: Cash $ 2,267 $ 3,898 Prepaid expenses 61,333 3,148 Total current assets 63,600 7,046 Investments held in Trust Account 11,347,748 45,356,234 Total Assets $ 11,411,348 $ 45,363,280 Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit: Current liabilities: Accounts payable $ 346,051 $ 9,065 Accrued expenses 615,477 59,430 Total current liabilities 961,528 68,495 Exchange Note 296,942 — Derivative liabilities 1,102,500 112,460 Contingently issuable private placement warrants 57,500 5,865 Total Liabilities 2,418,470 186,820 Commitments and Contingencies (Note 6) Class A ordinary shares subject to possible redemption; $ 0.0001 par value; 1,006,683 and 4,151,134 shares at redemption value of $ 11.173 and $ 10.902 per share at June 30, 2024 and December 31, 2023, respectively 11,247,748 45,256,234 Shareholders' deficit: Preference shares, $ 0.0001 par value 1,000,000 shares authorized none issued and outstanding — — Class A ordinary shares, $ 0.0001 par value; 479,000,000 shares authorized; 2,559,000 and no non-redeemable shares issued or outstanding as of June 30, 2024 and December 31, 2023, respectively 256 — Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 3,191,000 and 5,750,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 319 575 Additional paid-in capital 374,077 863,326 Accumulated deficit ( 2,629,522 ) ( 943,675 ) Total shareholders' deficit ( 2,254,870 ) ( 79,774 ) Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit $ 11,411,348 $ 45,363,280 The accompanying notes are an integral part of these unaudited condensed interim fi

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