STOCK TITAN

New Chain Bridge I (CBGGF) notes fund business combination costs

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

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.

Positive

  • None.

Negative

  • None.

Insights

Chain Bridge I extends existing debt and adds small, flexible notes.

Chain Bridge I extended the maturity of a non-interest bearing senior note to November 15, 2026, easing near-term repayment pressure without increasing its stated $1,250,000 principal. Removing an event of default tied to preferred share authorization simplifies covenant risk.

The company also issued additional unsecured, non-interest bearing notes with $312,500 aggregate principal for $250,000 in proceeds, subordinated to Permitted Senior Indebtedness but senior to other debt. Proceeds are directed to initial business combination costs and general corporate needs.

The lenders may exchange the new notes into a future preferred share series on mutually agreed terms, giving both sides flexibility to shift from debt to equity-like capital. Actual impact will depend on whether this exchange feature is used as the November 15, 2026 maturity approaches.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Senior Note principal $1,250,000 Unsecured, non-interest bearing senior promissory note
Senior Note new maturity November 15, 2026 Extended from June 30, 2026
New Notes principal $312,500 Aggregate principal amount of new unsecured notes
New Notes purchase price $250,000 Aggregate purchase price paid by lenders
New Notes maturity November 15, 2026 Due date for repayment of new notes
Material Definitive Agreement regulatory
"Item 1.01. Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
Permitted Senior Indebtedness financial
"All payments due under the Notes rank junior to Permitted Senior Indebtedness (as defined in the Notes)"
Permitted Indebtedness financial
"pari passu to Permitted Indebtedness (as defined in the Notes)"
Event of Default financial
"The Notes include customary representations, warranties, covenants and events of default (each, an “Event of Default”)"
An event of default is a specific breach of a loan or bond agreement—such as missed payments or breaking agreed rules—that gives lenders the legal right to act, for example by demanding immediate repayment, seizing collateral, or accelerating other obligations. For investors, it’s a red flag because it can sharply reduce a company’s ability to operate or raise money, like a car lender repossessing a vehicle after missed payments, and often leads to falling share or bond prices.
initial business combination financial
"used to pay for certain fees and expenses incurred in connection with the Company’s initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
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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): May 28, 2026

 

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)

 

8 The Green #17538
Dover, DE
  19901
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (202) 656-4257

 

 

(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
Class A ordinary shares, par value $0.0001 per share   CBRRF   OTCQB
Units, each consisting of one Class A ordinary share and one-half of one redeemable Warrant to acquire one Class A ordinary share   CBGGF   OTCID
Warrants to purchase Class A Ordinary Shares   CBRGF   OTCID

 

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  

 

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 1.01. Entry into a Material Definitive Agreement.

 

On May 28, 2026, the Chain Bridge I (the “Company”) entered into Amendment No. 1 (the “Amendment No. 1”) to the unsecured, non-interest bearing promissory note in the aggregate amount of $1,250,000 (the “Senior Note”), originally issued on September 30, 2025, held by C/M Capital Master Fund LP (the “Existing Lender”). Pursuant to Amendment No. 1, among other things, (i) the maturity date of the Senior Note was extended from June 30, 2026 to November 15, 2026 and (ii) the event of default for failure to establish and authorize a certificate of designation for a new series of preferred shares of the Company on or before November 15, 2025 was removed.

 

The foregoing description of the Existing Note and the Amendment No. 1 does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No.1, which is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On May 28, 2026, the Company issued certain unsecured, non-interest bearing promissory notes (the “Notes”) to certain investors (the “Lenders”) in the aggregate principal amount of $312,500, for an aggregate purchase price of $250,000.

 

The Notes are due and payable in full on November 15, 2026 (the “Maturity Date”). The Notes may be prepaid at any time without penalty. All payments due under the Notes rank junior to Permitted Senior Indebtedness (as defined in the Notes), pari passu to Permitted Indebtedness (as defined in the Notes) and senior to all other indebtedness of the Company and its subsidiaries. The proceeds from the Notes will be used to pay for certain fees and expenses incurred in connection with the Company’s initial business combination and for other general corporate purposes.

 

The Notes include customary representations, warranties, covenants and events of default (each, an “Event of Default”), including, among others, (i) certain events of bankruptcy, insolvency or reorganization and (ii) breach of certain representations, warranties, covenants or other terms of the Notes that remains uncured for five (5) business days. The Lenders have the right to exchange all or any portion of the Notes for a new series of preferred shares of the Company on terms mutually agreed upon by the Company and the Lenders.

 

The foregoing description of the Notes is not complete and is qualified in its entirety by reference to the full text of the Notes, the form of which is filed as Exhibit 4.2 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits. 

 

Exhibit
Number
  Description
4.1   Amendment No. 1 to Senior Note, dated as of May 28, 2026.
4.2   Form of Note.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1

 

 

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: June 3, 2026

 

  CHAIN BRIDGE I
   
  By: /s/ Andrew Cohen
  Name: Andrew Cohen
  Title: Chief Executive Officer

 

2

 

FAQ

What did Chain Bridge I (CBGGF) change in its existing senior note?

Chain Bridge I extended the maturity of its unsecured, non-interest bearing senior promissory note to November 15, 2026 and removed an event of default tied to creating a new preferred share series, leaving the aggregate principal amount at $1,250,000 under revised terms.

How much new debt did Chain Bridge I (CBGGF) issue in the latest notes?

The company issued new unsecured, non-interest bearing promissory notes with an aggregate principal amount of $312,500, sold for a total purchase price of $250,000. These notes are due November 15, 2026 and can be prepaid at any time without penalty under their stated terms.

What is the payment priority of Chain Bridge I’s new notes (CBGGF)?

Payments on the new notes rank junior to Permitted Senior Indebtedness, pari passu with Permitted Indebtedness, and senior to all other indebtedness of Chain Bridge I and its subsidiaries. This priority structure clarifies how claims would be treated relative to other company obligations.

How will Chain Bridge I (CBGGF) use the proceeds from the new notes?

The company plans to use proceeds from the new notes to pay certain fees and expenses related to its initial business combination and for other general corporate purposes. This aligns the financing directly with transaction-related costs and ongoing operational funding needs.

Can Chain Bridge I’s new notes (CBGGF) convert into equity?

Lenders have the right to exchange all or part of the new notes into a new series of preferred shares on terms mutually agreed with Chain Bridge I. This optional exchange feature could shift the financing from pure debt toward preferred equity, depending on future agreements.

Filing Exhibits & Attachments

6 documents