Loan & DebtJun 3, 2026, 04:07 PM
Chain Bridge I Extends Senior Note, Issues $312,500 New Notes
AI Summary
Chain Bridge I entered into an amendment to its Senior Note, extending its maturity date from June 30, 2026, to November 15, 2026, and removing a prior event of default. Additionally, the company issued new unsecured, non-interest bearing promissory notes totaling $312,500 in principal, for a purchase price of $250,000. These new notes also mature on November 15, 2026, and their proceeds will be used for initial business combination expenses and general corporate purposes.
Key Highlights
- Chain Bridge I extended the maturity date of its $1,250,000 Senior Note from June 30, 2026, to November 15, 2026.
- An event of default related to establishing preferred shares by November 15, 2025, was removed from the Senior Note.
- The company issued new unsecured, non-interest bearing promissory notes with an aggregate principal amount of $312,500.
- The new notes were issued to certain investors for an aggregate purchase price of $250,000.
- The new notes are due and payable in full on November 15, 2026.
- Proceeds from the new notes will fund initial business combination fees and general corporate purposes.
- Lenders of the new notes have the right to exchange them for a new series of preferred shares.
Price Impact
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