CIA-backed Chain Bridge I in an 8-K disclosed it has signed a non-binding lettoer of intent for a potential merger with a target that presents a “compelling opportunity” for an acquisition.
The SPAC wants to push its termination date from May 15 to Nov. 15.
Following a November 2021 IPO of $200 million, the SPAC has 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.
The SPAC’s per-share redemption price is expected to be $10.44 for investors planning to cash out. Read more.
