Chain Bridge I announced that it will redeem all outstanding Class A shares effective at the close of business Nov. 15 because it will not complete a deal by its deadline that day, marking two years after a $200 million IPO.
Redemptions on an extension vote in May virtually wiped out the cash in trust. Chain Bridge I in April said it signed an LOI for a potential deal with an unnamed target, but no formal merger agreement was announced.
The SPAC had been targeting companies engaged in the support of US national security. Chain Bridge I was launched by the CIA’s venture capital arm, In-Q-Tel. Read more.
