debt
confidence high
sentiment neutral
materiality 0.60
Chain Bridge I receives $1.59M bridge loan from Phytanix Bio for working capital and business combination costs
Chain Bridge I
- Phytanix Bio agreed to loan Chain Bridge I $1,590,995.12 on June 26, 2024 via unsecured non-interest bearing promissory note.
- Maturity date is later of June 29, 2025 or consummation of initial business combination; note cannot be repaid from trust account.
- Proceeds will pay off working capital loans to Fulton AC I LLC, fees/expenses for business combination, and general corporate purposes.