Chain Bridge I priced its IPO of 20 million units at $10 each. Units begin trading on the Nasdaq today under CBRGU. The offering is expected to close Nov. 15.
Each unit consists of one Class A ordinary share and one-half of a warrant.
The SPAC may raise an additional $40 million at the closing of an acquisition through a forward-purchase agreement with Franklin Templeton.
The new SPAC is targeting companies engaged in the support of US national security.
Cowen and Wells Fargo are joint book-running managers for the offering. The underwriters have an option to purchase up to 3 million additional units. Read more.
