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Posted 05 January, 2024

Chain Bridge I appointed Andrew Cohen as new CEO

Nasdaq:CBRG appointed new Chief Executive Officer Andrew Cohen in a 8-K filed on 05 January, 2024.


  Prior to resigning, the Board appointed Andrew Cohen, Daniel Wainstein, Lewis Silberman and Paul Baron to fill the vacancies on the Board created by such resignations and appointed Andrew Cohen as Chief Executive Officer of the Company.  

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Overview of Chain Bridge I
Business/Consumer Services • Shell companies
Chain Bridge I operates as a blank check company, which engages in effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. The company was founded by Christopher Darby, Stephen Bowsher, Michael Rolnick, and Roger Lazarus on January 21, 2021 and is headquartered in Burlingame, CA.
Market Cap
$108M
View Company Details
Chain Bridge I by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


Effective as of the Closing Date, all of our officers, other than our Chief Financial Officer, and the entirety of the Board resigned. Further, the Board was decreased from five to four members. Prior to resigning, the Board appointed Andrew Cohen, Daniel Wainstein, Lewis Silberman and Paul Baron to fill the vacancies on the Board created by such resignations and appointed Andrew Cohen as Chief Executive Officer of the Company. Roger Lazarus, our Chief Financial Officer, will continue to be the Chief Financial Officer of the Company. On December 11, 2023, the Company filed with the Securities and Exchange Commission and transmitted to its shareholders an information statement on Schedule 14f-1 setting out information about the changes to the Board and our chief executive officer.


Each of the new directors agreed to become a party to the Letter Agreement and be bound by, and subject to, all of the terms and conditions of the Letter Agreement, including to vote any Class B ordinary shares and Class A ordinary shares held by him in favor of the Company's initial business combination and certain transfer restrictions with respect to the Company's securities. Each new director also agreed to vote the Amendment Proposal and entered into an Indemnification Agreement in the form previously disclosed by the Company providing each of them contractual rights to indemnification in addition to the indemnification provided for in the Company's Amended and Restated Memorandum and Articles of Association.


On December 29, 2023, the Company entered into letter agreements with each Mr. Silberman, Mr. Baron and Mr. Lazarus, pursuant to which, among other things, the Company agreed to grant each of them 50,000, 50,000 and 70,000 restricted stock units of the Company, respectively, subject to the terms and conditions set forth therein (the "RSU Agreements").


The description of the RSU Agreements is qualified in its entirety by reference to the text of the Form of RSU Agreement which is attached hereto as Exhibit 10.5 and incorporated herein by reference.