Chain Bridge I (CBRRF), a SPAC, and CommLoan, a commercial real estate lending technology company, announce a non-binding Letter of Intent to combine and create a new public company named CommLoan Inc.
CommLoan's equity holders will roll 100% of their equity into the new company, led by Mitch Ginsberg, founder and CEO of CommLoan.
The combined company's common stock is expected to be listed on the Nasdaq Capital Market after the closing of the transaction.
Business Combination
CBRRF and CommLoan to merge, forming a new company named CommLoan Inc.
Leadership
Mitch Ginsberg, CommLoan's founder, to lead the new entity with over 30 years of experience.
Market Disruption
CommLoan's technology aims to disrupt the commercial mortgage industry with over 900 financial partners.
- The proposed business combination aims to bring innovation to the commercial mortgage industry.
- CommLoan's CUPID™ platform is set to enhance loan product matching for borrowers and lenders.
- The estimated pre-money equity value for the transaction is $50 million, representing a significant milestone for both companies.
The LOI sets the stage for a potential transformative merger in the commercial real estate fintech landscape, signaling a new chapter of innovation and growth for CBRRF and CommLoan.