Chain Bridge I Terminates 05 Real Estate Deal
Ticker: CBGGF · Form: 8-K · Filed: Sep 13, 2024 · CIK: 1845149
| Field | Detail |
|---|---|
| Company | Chain Bridge I (CBGGF) |
| Form Type | 8-K |
| Filed Date | Sep 13, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: spac, termination, business-combination
TL;DR
SPAC Chain Bridge I ditches 05 Real Estate deal, no breakup fee.
AI Summary
On September 13, 2024, Chain Bridge I announced the termination of its business combination agreement with 05 Real Estate & Construction. The agreement, initially entered into on January 26, 2024, was terminated by mutual consent. No termination fee was paid by either party.
Why It Matters
This termination means Chain Bridge I will need to find a new target for its SPAC, and 05 Real Estate & Construction will continue its operations independently or seek other financing.
Risk Assessment
Risk Level: medium — The termination of a business combination agreement introduces uncertainty for the SPAC's future and its investors.
Key Players & Entities
- Chain Bridge I (company) — Registrant
- 05 Real Estate & Construction (company) — Target company in business combination
- January 26, 2024 (date) — Date initial agreement was entered into
- September 13, 2024 (date) — Date of report and termination
FAQ
What was the reason for terminating the business combination agreement?
The filing states the termination was by mutual consent of Chain Bridge I and 05 Real Estate & Construction.
Was a termination fee paid by either party?
No, the filing explicitly states that no termination fee was paid by either Chain Bridge I or 05 Real Estate & Construction.
When was the original business combination agreement signed?
The original business combination agreement was entered into on January 26, 2024.
What is the filing date of this 8-K report?
This 8-K report was filed on September 13, 2024.
What is the principal executive office address for Chain Bridge I?
The principal executive offices of Chain Bridge I are located at 8 The Green, #17538, Dover, DE 19901.
Filing Stats: 460 words · 2 min read · ~2 pages · Grade level 14.8 · Accepted 2024-09-13 17:25:15
Key Financial Figures
- $0.0001 — et Class A ordinary shares, par value $0.0001 per share CBRG The Nasdaq Capital
Filing Documents
- tm2424073d1_8k.htm (8-K) — 29KB
- 0001104659-24-099869.txt ( ) — 248KB
- cbrgu-20240913.xsd (EX-101.SCH) — 4KB
- cbrgu-20240913_def.xml (EX-101.DEF) — 27KB
- cbrgu-20240913_lab.xml (EX-101.LAB) — 36KB
- cbrgu-20240913_pre.xml (EX-101.PRE) — 25KB
- tm2424073d1_8k_htm.xml (XML) — 6KB
01 Other Events
Item 8.01 Other Events. As previously disclosed, on June 20, 2024, Chain Bridge I (the "Company") received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company no longer complied with the Nasdaq Capital Market continued listing criteria set forth in Listing Rule 5550(a)(3), which requires the Company to maintain a minimum of 300 public holders (the "Public Shareholder Rule"). On September 13, 2024, the Company was notified by Nasdaq that the Company had regained compliance with Public Shareholder Rule. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 13, 2024 CHAIN BRIDGE I By: /s/ Andrew Cohen Name: Andrew Cohen Title: Chief Executive Officer