Latest Non-Redemption Agreements: Chain Bridge I
Chain Bridge I (CBRG) Adds Non-Redemption Agreement
On May 10, 2023, Chain Bridge I (NASDAQ:CBRG), Chain Bridge Group, the sponsor of the Company, and CB Co-Investment LLC entered into non-redemption agreements with one or more unaffiliated third party or parties in exchange for each such third party or third parties agreeing not to redeem 400,000 ordinary shares.
In exchange for the foregoing commitments not to redeem such shares, the sponsor and CB Co-Investment, as applicable, have agreed to transfer, to each such third party purchaser 100,000 ordinary shares, plus up to an additional 50,000 ordinary shares.
The Company expects the third-party purchaser to purchase at least 175,000 ordinary shares in the open market and/or through negotiated private transactions and elect not to redeem such shares in connection with the meeting.
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