debt
confidence high
sentiment neutral
materiality 0.35
Chain Bridge I (CBRRF): debt financing — Chain Bridge I issues $1.25M convertible promissory note to C/M Capital Master Fund LP
Chain Bridge I
- Issued unsecured, non-interest bearing promissory note for $1.25M principal; net proceeds of $1M.
- Note matures June 30, 2026; prepayable without penalty; ranks junior to certain existing debt.
- Proceeds used for fees/expenses related to initial business combination and for general corporate purposes.
- Lender may exchange note for new series of preferred shares, to be authorized by Nov 15, 2025.
- Note includes customary covenants and events of default, including failure to establish new preferred shares.