Chain Bridge I Announces Full Exercise of Underwriters' Over-Allotment Option and Closing of $230 Million Initial Public Offering
Chain Bridge I (the "Company"), a special purpose acquisition company, today announced the closing of its initial public offering of 23,000,000 units, including 3,000,000 units issued pursuant to the underwriters' exercise in full of their over-allotment option. The offering was priced at $10.00 per unit, generating total gross proceeds of $230 million.
The units began trading on The Nasdaq Stock Market ("Nasdaq") under the symbol "CBRGU" on November 10, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be traded on Nasdaq under the symbols "CBRG" and "CBRGW", respectively.
Cowen and Company, LLC and Wells Fargo Securities, LLC served as joint book-running managers for the offering.
A registration statement relating to the securities became effective on November 9, 2021. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained for free by visiting the SEC's website at www.sec.gov. Alternatively, copies may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by telephone at (833) 297-2926 or by email at [email protected]; or from Wells Fargo Securities, LLC, 500 West 33rd Street, New York, NY 10001, Attn: Equity Syndicate Department, by telephone at (833) 690-2713 or by email at [email protected]. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Chain Bridge I
Chain Bridge I is a newly organized blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including statements regarding the anticipated use of the net proceeds of the offering. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's registration statement and prospectus for the offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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