Chain Bridge I Will Redeem Public Shares; The Per-Share Redemption Price For The Public Shares Will Be ~$10.80

Chain Bridge I (the "Company") (NASDAQ:CBRGU, CBRG, CBRGW))))), a special purpose acquisition company, today announced that it will redeem all of its outstanding Class A ordinary shares, par value $0.0001 (the "Public Shares"), effective as of the close of business on November 15, 2023, as the Company will not consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association (the "Articles").

The Company concluded it would be unable to meet its expectations for quality and long-term return potential by completing an initial business combination by November 15, 2023 (twenty-four months from the closing of the Company's initial public offering).

The Company has shared a Letter to Investors with details on this decision that can be found as Exhibit 99.2 to the Form 8-K filed by the Company on October 31, 2023.

As such, in accordance with the Company's Articles, the Company will:

• cease all operations as of November 15, 2023, except those required to wind up the Company's business ;
• as promptly as reasonably possible, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Company's trust account (the "Trust Account"), including interest earned on the funds held in the Trust Account and not previously released to the Company to pay the Company's income taxes, if any (less $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding Public Shares, which redemption will completely extinguish public shareholders' rights as shareholders of the Company (including the right to receive further liquidation distributions, if any); and
• as promptly as reasonably possible following such redemption, subject to the approval of the Company's remaining shareholders and the Company's board of directors, liquidate and dissolve, subject to the Company's obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.

The per-share redemption price for the public shares will be approximately $10.80 (the "Redemption Amount"). The balance of the Trust Account as of October 30, 2023 was approximately $44,947,177.68, which includes approximately $2,605,610.88 in interest and dividend income (excess of cash over $42,341,566.80, the funds deposited into the Trust Account). In accordance with the terms of the related trust agreement, the Company expects to retain $100,000 of the interest and dividend income from the Trust Account to pay dissolution expenses.

As of the close of business on November 15, 2023, the Public Shares will be deemed cancelled and will represent only the right to receive the Redemption Amount.

The Redemption Amount will be payable to the holders of the Public Shares upon presentation of their respective stock or unit certificates or other delivery of their shares or units to the Company's transfer agent, Continental Stock Transfer & Trust Company. Beneficial owners of Public Shares held in "street name," however, will not need to take any action in order to receive the Redemption Amount.

There will be no redemption rights or liquidating distributions with respect to the Company's warrants, which will expire worthless.

Our initial shareholders, including the Company's Sponsor and CB Co-Investment LLC, have agreed to waive their redemption rights with respect to the outstanding Class A ordinary shares, held by the them, and the Class B ordinary shares. After November 15, 2023, the Company shall cease all operations except for those required to wind up the Company's business.

The Company expects that the Nasdaq Stock Market will file a Form 25 with the U.S. Securities and Exchange Commission (the "Commission") to delist its securities. The Company thereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended.