M3-Brigade Acquisition II Corp. Announces Closing of $400 Million Initial Public Offering

Rhea-AI Summary

M3-Brigade Acquisition II Corp. (NYSE: MBAC) has successfully closed its initial public offering (IPO) of 40 million units at $10.00 per unit, raising a total of $400 million. The units began trading on the NYSE under the ticker symbol 'MBAC.U' as of March 4, 2021. Each unit comprises one share of Class A common stock and one-third of a warrant, with a whole warrant allowing the purchase of one share at $11.50. The underwriter, Cantor Fitzgerald & Co., has an option to acquire an additional 6 million units to cover over-allotments.

Positive

• Raised $400 million from IPO, enhancing liquidity.
• Units listed on NYSE under ticker symbol 'MBAC.U', increasing market presence.

Negative

• None.

NEW YORK, March 8, 2021 /PRNewswire/ -- M3-Brigade Acquisition II Corp. (NYSE: MBAC, the "Company") announced today that it has closed its initial public offering of 40,000,000 units at a price of $10.00 per unit, resulting in gross proceeds of $400,000,000.  The Company's units are listed on the New York Stock Exchange (the "NYSE") and commenced trading under the ticker symbol "MBAC.U" on March 4, 2021. Each unit consists of one share of Class A common stock and one-third of one warrant, with each whole warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be traded on the NYSE under the symbols "MBAC" and "MBAC WS," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

Cantor Fitzgerald & Co. acted as the sole book-running manager of the offering. The underwriter has been granted a 45-day option to purchase up to an additional 6,000,000 units offered by the Company to cover over-allotments, if any.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 3, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention Capital Markets, 499 Park Avenue, New York, NY 10022, or by e-mail at prospectus@cantor.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About M3-Brigade Acquisition II Corp.

M3-Brigade Acquisition II Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses. We intend to focus our efforts on seeking and consummating an initial business combination with a company that has an enterprise value of at least $1 billion, although a target entity with a smaller or larger enterprise value may be considered  While we may pursue an acquisition opportunity in any business industry or sector and in any geographic region, we expect to focus on businesses or companies which are based in North America and have been positively or negatively impacted by the COVID-19 pandemic or businesses in the renewable energy sector (or related products or services).

Contact:
M3 Partners, LP
Kristin Celauro
212-202-2223
kcelauro@m3-partners.com

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SOURCE M3-Brigade Acquisition II Corp.

FAQ

What was the total amount raised in M3-Brigade Acquisition II Corp.'s IPO?

M3-Brigade Acquisition II Corp. raised a total of $400 million in its IPO.

When did M3-Brigade Acquisition II Corp.'s units start trading?

The units began trading on the NYSE on March 4, 2021.

What does each unit of M3-Brigade Acquisition II Corp. consist of?

Each unit consists of one share of Class A common stock and one-third of a warrant.

What is the exercise price for the warrants of M3-Brigade Acquisition II Corp.?

The exercise price for the warrants is $11.50 per share of Class A common stock.

Who acted as the underwriter for the IPO of M3-Brigade Acquisition II Corp.?

Cantor Fitzgerald & Co. acted as the sole book-running manager for the IPO.