Financial Performance - For the year ended December 31, 2024, the company reported a net loss of approximately $1.4 million, with general and administrative expenses of approximately $2.1 million[331]. - For the year ended December 31, 2023, the company had a net income of approximately $7.6 million, driven by investment income of approximately $5.4 million[332]. Cash and Working Capital - As of December 31, 2024, the company had cash of $129,598 and a working capital deficit of $884,195[326]. Business Operations and Future Plans - The company has until November 15, 2025, to consummate an initial Business Combination, after which it must cease operations and redeem Public Shares if not completed[328]. - The company does not expect any adjustments to the carrying amounts of assets or liabilities if required to liquidate after November 15, 2025[329]. Financial Instruments and Liabilities - The fair value of the converted loan from CB Co-Investment was $4,600 as of December 31, 2024, included in contingently issuable private placement warrants[327]. - The company recognized 22,050,000 warrants as derivative liabilities, measured at fair value, with adjustments at each reporting period[335]. - As of December 31, 2024, 455,736 Class A ordinary shares were subject to possible redemption, presented at redemption value as temporary equity[336]. Off-Balance Sheet Arrangements - The company has not engaged in any off-balance sheet arrangements as of December 31, 2024 and 2023[346]. Regulatory Status - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards[347].
Chain Bridge I(CBRGU) - 2024 Q4 - Annual Report