Chain Bridge I (CBGGF) is asking shareholders to approve a charter amendment extending its initial business-combination deadline from November 15, 2026 to November 15, 2027. The vote is set for November 2, 2026. A separate adjournment proposal would be presented only if needed because of insufficient votes or otherwise in connection with the amendment.
If approved, holders of eligible, non-converted Public Shares may redeem for their pro rata portion of the Trust Account. The estimated redemption value was approximately $12.65 per share on September 24, 2026, compared with the Class A Ordinary Shares’ last reported closing price of $10.31 that day. Approximately $792,065 remained in the Trust Account on that date; Chain Bridge says it cannot predict the post-redemption balance and it may be only a small fraction of that amount.
The Board recommends voting FOR both proposals. The amendment requires at least two-thirds of Ordinary Shares present or represented by proxy and entitled to vote that are cast; a quorum requires one-third of outstanding Ordinary Shares. Fulton AC, CBG, CB Co-Investment and certain current and former directors and officers will vote for both proposals under their letter agreement.
Chain Bridge I (CBGGF), a Cayman Islands SPAC, is asking shareholders to approve an amendment to its existing charter to extend the deadline to complete an Initial Business Combination from November 15, 2026 to November 15, 2027 and to remove certain minimum requirements that could impede a deal. All public shareholders, other than holders of Converted Shares, may redeem their Class A shares for cash if the amendment is approved.
The trust account, initially funded with $234.6 million from the IPO and private placement, has been heavily reduced by multiple redemption rounds and held about $790,167.74, or roughly $12.62 per eligible Public Share, as of September 8, 2026. After prior redemptions and sponsor conversions, 3,014,736 Class A Ordinary Shares and 3,191,000 Class B Ordinary Shares were outstanding.
Sponsor-affiliated entities Fulton AC, Chain Bridge Group and CB Co-Investment, together with directors and officers, control roughly 96.7% of the voting power and have waived rights to trust distributions on their founder and Converted Shares; their founder equity and private warrants will expire worthless if no business combination is completed. The proxy outlines significant conflicts of interest, multiple sponsor loans and contribution arrangements, detailed redemption mechanics, and risks including further trust depletion, potential investment company and “penny stock” issues, and creditor claims in a liquidation.
Chain Bridge I, a blank-check company, reported a net loss of $603,048 for the six months ended June 30, 2026, compared with a loss of $357,847 a year earlier. Operating expenses and interest on financing drove the loss, partially offset by modest trust income and warrant remeasurement gains.
Total assets were $1.09 million, including $783,587 in a Trust Account, against $4.79 million in liabilities and a shareholders’ deficit of $4.48 million. Cash was $147,356 with a working capital deficit of $952,568, as operating activities used $492,898 of cash in the first half.
The company has raised liquidity through a $1.25 million senior note (carrying amount $1.25 million) and additional $312,500 in 2026 promissory notes, plus a $1,023,235 bridge financing note and a $368,680 related-party exchange note. Heavy redemptions have reduced Class A ordinary shares subject to possible redemption to 62,590, leaving a small public float.
Management discloses that its liquidity position and the obligation to complete a business combination by November 15, 2026 raise substantial doubt about its ability to continue as a going concern. The company’s securities have been delisted from Nasdaq and now trade over-the-counter.
Chain Bridge I reported two financing actions. First, it amended an existing unsecured, non-interest bearing senior promissory note with an aggregate amount of $1,250,000, extending the maturity date from June 30, 2026 to November 15, 2026 and removing a prior event of default tied to creating a new preferred share series. Second, the company issued new unsecured, non-interest bearing promissory notes with an aggregate principal of $312,500 for a purchase price of $250,000, due November 15, 2026. These new notes can be prepaid without penalty and may be exchanged, in whole or in part, into a new series of preferred shares on terms later agreed between the company and the lenders. Proceeds are earmarked for fees and expenses related to the initial business combination and other general corporate purposes.
Chain Bridge I: Clear Street LLC amended its Schedule 13G to state it beneficially owns 0 shares of Common Stock (CUSIP G2061X102) and holds 0.0% of the class. The amendment says the firm’s ownership "does not meet or exceed the 5% reporting threshold" and terminates its reporting obligation.
The filing is signed by John DiBacco, Head of Markets Trading, and dated 05/20/2026. The filer lists its address as 4 World Trade Center, New York, NY.
CHAIN BRIDGE I, a blank check company, reported a net loss of $436,659 for the three months ended March 31, 2026, compared with $363,640 a year earlier, driven mainly by operating costs and non‑cash fair value changes on derivative liabilities.
Total assets were $941,330, including $774,848 held in the Trust Account, while cash outside the trust was $136,637. The company had a working capital deficit of $1,060,576 and outstanding debt, including an Exchange Note of $368,680, a Bridge Financing Note of $1,023,235, and a Senior Note of $1,160,397.
Extensive shareholder redemptions have reduced Class A ordinary shares subject to possible redemption to 62,590, with a redemption value of $774,848. The company faces a mandatory deadline of November 15, 2026 to complete a business combination and discloses substantial doubt about its ability to continue as a going concern, compounded by prior delisting from Nasdaq and reliance on sponsor and third‑party financing.
Chain Bridge I reports a Schedule 13G showing Clear Street LLC beneficially owns 405,467 shares of Common Stock (CUSIP G2061X102), representing 15.5% of the class as of 05/05/2026. The filing states Clear Street has sole voting and dispositive power over these shares.
Chain Bridge I, a Cayman Islands-based blank check company, reports on its status as it continues to search for an initial business combination. The SPAC raised $230 million in its 2021 IPO but has since seen substantial redemptions and now has about $774,471 in its trust account as of March 27, 2026.
The company has extended its deadline several times and now has until November 15, 2026 to complete a business combination or redeem all public shares, with an estimated redemption value of about $12.37 per share. Multiple loans and promissory notes, including the Exchange Note, a bridge financing from Phytanix Bio and the C/M Note, support working capital and deal costs while the search continues.
Chain Bridge I notified the SEC it cannot timely file its Form 10-K for the year ended December 31, 2025 because it needed additional time to compile certain financial and other information. The registrant states it will file the Form 10-K no later than five days after its original prescribed due date.
Contact for the notification is Andrew Kucharchuk, Chief Financial Officer, and the notice is signed April 1, 2026.
Chain Bridge I has been downgraded from the OTCQB Venture Market to the OTCID Basic Market after failing to meet public float requirements. OTC Markets Group notified the company on February 11, 2026 that the cure period had expired, and the move to OTCID became effective on February 12, 2026.
The issue stems from the company’s public float being less than 10% of total shares outstanding, below OTCQB’s continued listing standard. The company states that its business operations and SEC reporting obligations will continue unchanged, and it is evaluating strategic options to regain compliance with relevant listing standards.