Welcome to our dedicated page for CHAIN BRIDGE I SEC filings (Ticker: CBRGF), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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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 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.
Chain Bridge I received an amended Schedule 13G from TD Securities (USA) LLC, Toronto Dominion Holdings (USA) Inc, TD Group US Holdings LLC and The Toronto-Dominion Bank reporting that they now beneficially own 0 Class A ordinary shares, representing 0% of the class.
The filing confirms they have no sole or shared voting or dispositive power over any Chain Bridge I Class A shares and that their ownership is 5 percent or less of the class. The reporting entities state the securities were held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Chain Bridge I filed its Q3 2025 report, showing a net loss of $1.30 million for the quarter and $1.66 million year-to-date. Results were driven mainly by a $1.07 million loss from changes in derivative liabilities, partially offset by $56,719 of trust interest. Cash was $1,001,325 with a working capital deficit of $357,128. Investments held in the trust account totaled $5,494,086.
To fund operations, the company reported a $1,000,000 senior note balance, an Exchange Note balance of $627,096, and a Bridge Financing Note balance of $1,023,235. Management disclosed “substantial doubt” about the company’s ability to continue as a going concern tied to the deadline to complete a business combination by November 15, 2026. The company also noted prior redemptions and that its securities were suspended from Nasdaq trading on November 19, 2024 and transitioned to OTC markets.
Chain Bridge I filed Amendment No. 1 to its Q3 2024 report to restate results after identifying two accounting errors. A $200,000 payment made on the company’s behalf should have been recorded as an increase to the Bridge Financing Note with a corresponding expense, and a $97,500 retainer should have been amortized to expense.
After restatement, Q3 general and administrative expenses rose by $297,500, reducing Q3 net income to $326,476. For the nine months, net loss increased to $(1,359,371). The company states there was no impact on cash or Trust Account balances. As of September 30, 2024, the Bridge Financing Note stood at $1,063,235, cash was $428,625, and working capital showed a deficit of $583,851.
Management concluded disclosure controls and procedures were not effective due to a material weakness in reviewing and reconciling liabilities and prepaid expenses and plans remediation. The filing also reiterates substantial doubt about the company’s ability to continue as a going concern given the November 15, 2025 deadline to complete a business combination.