Chain Bridge I Will Redeem Public Shares; The Per-Share Redemption Price For The Public Shares Will Be ~$10.80
Portfolio Pulse from Benzinga Newsdesk
Chain Bridge I (NASDAQ:CBRGU, CBRG, CBRGW) has announced that it will redeem all of its outstanding Class A ordinary shares at a per-share price of approximately $10.80, effective as of the close of business on November 15, 2023. The decision comes as the company will not be able to consummate an initial business combination within the required time period. The company will cease all operations, except those required to wind up the business, and expects that the Nasdaq Stock Market will file a Form 25 with the U.S. Securities and Exchange Commission to delist its securities.
October 31, 2023 | 8:01 pm
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NEGATIVE IMPACT
Chain Bridge I will redeem all outstanding Class A ordinary shares at approximately $10.80 per share and cease operations. The company's securities are expected to be delisted from Nasdaq.
The company's decision to redeem all outstanding shares and cease operations indicates a significant negative impact on the stock. The expected delisting from Nasdaq further reduces the stock's attractiveness to investors.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Chain Bridge I will redeem all outstanding Class A ordinary shares at approximately $10.80 per share and cease operations. The company's securities are expected to be delisted from Nasdaq.
The company's decision to redeem all outstanding shares and cease operations indicates a significant negative impact on the stock. The expected delisting from Nasdaq further reduces the stock's attractiveness to investors.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Chain Bridge I will redeem all outstanding Class A ordinary shares at approximately $10.80 per share and cease operations. The company's securities are expected to be delisted from Nasdaq.
The company's decision to redeem all outstanding shares and cease operations indicates a significant negative impact on the stock. The expected delisting from Nasdaq further reduces the stock's attractiveness to investors.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100