Form 8-K - Current report
15 December 2023 - 8:11AM
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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or Section 15(d) of the Securities Exchange Act of 1934
Date of Report (Date
of earliest event reported): December 8, 2023
Chain Bridge I
(Exact name of registrant
as specified in its charter)
Cayman Islands |
|
001-41047 |
|
98-1578955 |
(State or other jurisdiction of
incorporation or organization) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification Number) |
330 Primrose Road, Suite 500
Burlingame, California |
|
94010 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s
telephone number, including area code: (202) 656-4257
Not Applicable
(Former name or former
address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange on
which
registered |
Units,
each consisting of one Class A ordinary share and one-half of one redeemable Warrant to acquire one Class A ordinary
share |
|
CBRGU |
|
The Nasdaq Capital Market |
Class
A ordinary shares, par value $0.0001 per share |
|
CBRG |
|
The Nasdaq Capital Market |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities
Exchange Act of 1934.
Emerging
growth company x
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers. |
As of December 13, each
current member of the board of directors of Chain Bridge I (the “Company”) and the Company’s chief executive officer
have tendered their resignations from their positions as directors and/or officers of the Company effective upon the consummation of the
transactions contemplated by the Securities Purchase Agreement (the “Agreement”), dated December 8, 2023 by and among
the Company, Chain Bridge Group (the “Sponsor”), CB Co-Investment LLC (“CB Co-Investment” and, together with the
Sponsor, the “Sellers”) and Fulton AC I LLC (“Buyer”). Roger Lazarus shall continue in his role as chief financial
officer. There were no disagreements between the current members of the Company’s board of directors, its chief executive officer
and the Company which led to their resignation.
On December 8, 2023,
the Company, the Sellers and Buyer, entered into the Agreement, pursuant to which Buyer will acquire from the Sellers an aggregate of
(i) 3,035,000 Class B ordinary shares and (ii) warrants to purchase 7,385,000 Class A ordinary shares exercisable
30 days after the consummation of a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination
with one or more businesses in accordance with the Company’s Amended and Restated Memorandum and Articles of Association.
Consummation of the transactions
contemplated by the Agreement requires, among other things, the conversion of the $1.15 million outstanding principal balance under the
promissory note issued by CB Co-Investment to the Company into warrants as contemplated in that certain Warrant Agreement, dated November 9,
2021 by and between the Company and Continental Stock Transfer & Trust Company, the termination of all other outstanding loans
to the Company by the Sponsor and the resignation of each current member of the Company’s board of directors and its chief executive
officer and the election or designation of individuals to fill such vacancies. On December 11, 2023, pursuant to Section 14(f) of
the Securities Exchange Act of 1934, as amended, and Rule 14f-1 thereunder, the Company filed with the Securities and Exchange Commission
and transmitted to its shareholders an information statement on Schedule 14f-1 (the “Schedule 14F”) setting out information
about the changes to the Company’s board of directors and its chief executive officer. The transactions contemplated by the Agreement
will not be consummated until at least 10 days have passed after the filing and transmittal of the Schedule 14F.
Additionally, the Company has decided to extend
its business operations for an additional month, in accordance with the Company’s Amended and Restated Memorandum and Articles of
Association.
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: December 14, 2023
|
CHAIN BRIDGE I |
|
|
|
By: |
/s/ Michael Rolnick |
|
Name: |
Michael Rolnick |
|
Title: |
Chief Executive Officer |
v3.23.3
Cover
|
Dec. 08, 2023 |
Document Information [Line Items] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Dec. 08, 2023
|
Entity File Number |
001-41047
|
Entity Registrant Name |
Chain Bridge I
|
Entity Central Index Key |
0001845149
|
Entity Tax Identification Number |
98-1578955
|
Entity Incorporation, State or Country Code |
E9
|
Entity Address, Address Line One |
330 Primrose Road
|
Entity Address, Address Line Two |
Suite 500
|
Entity Address, City or Town |
Burlingame
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
94010
|
City Area Code |
202
|
Local Phone Number |
656-4257
|
Written Communications |
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|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
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|
Entity Emerging Growth Company |
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|
Elected Not To Use the Extended Transition Period |
false
|
Units, each consisting of one Class A ordinary share and one-half of one redeemable Warrant to acquire one Class A ordinary share [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Units,
each consisting of one Class A ordinary share and one-half of one redeemable Warrant to acquire one Class A ordinary
share
|
Trading Symbol |
CBRGU
|
Security Exchange Name |
NASDAQ
|
Common Class A [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Class
A ordinary shares, par value $0.0001 per share
|
Trading Symbol |
CBRG
|
Security Exchange Name |
NASDAQ
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