Chain Bridge I (NASDAQ:CBRG) announced this morning that it has signed a letter of intent (LOI) to combine with an unnamed target company.
Shareholders will have this to consider as they vote at a May 5 special meeting to extend the SPAC’s transaction deadline from May 15 to November 15. But, Chain Bridge I has not given them much more to chew on.
It aimed to combine with an innovative technology company with US government contracts when it IPO’d in November 2021, but has given no details about this potential target’s sector or business.
Chain Bridge I has also not yet pledged a contribution to its trust in connection with this extension and has stated its pro rata trust value current sits at about $10.44. The SPAC’s shares last closed at $10.46. This morning’s filing also clarified that the record date for the vote is to be April 4.
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...
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