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

Rhea-AI Summary

M3-Brigade Acquisition II Corp. (NYSE: MBAC, MBAC.U) has priced its IPO at $10.00 per unit for 40 million units, set to trade on the NYSE starting March 4, 2021. Each unit comprises one share of Class A common stock and one-third of a warrant, with whole warrants priced at $11.50. The offering will close on March 8, 2021, pending closing conditions. Cantor Fitzgerald & Co. is the sole book-running manager, with the underwriter holding a 45-day option for an additional 6 million units. M3-Brigade aims for mergers with companies valued over $1 billion.

Positive

• Successful pricing of $400 million IPO.
• Units expected to attract investor interest due to favorable pricing.
• Potential for business expansion through mergers with companies valued over $1 billion.

Negative

• None.

NEW YORK, March 3, 2021 /PRNewswire/ -- M3-Brigade Acquisition II Corp. (NYSE: MBAC, the "Company") announced today that it priced its initial public offering of 40,000,000 units at a price of $10.00 per unit. The units are expected to commence trading on March 4, 2021 on The New York Stock Exchange (the "NYSE") under the ticker symbol "MBAC.U". Each unit consists of one share of Class A common stock and one-third of one warrant, 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. The offering is expected to close on March 8, 2021, subject to customary closing conditions.

Cantor Fitzgerald & Co. is acting 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 its 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 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 is the initial public offering price for MBAC, MBAC.U?

The IPO price for M3-Brigade Acquisition II Corp. is set at $10.00 per unit.

How many units are being offered in the MBAC IPO?

M3-Brigade Acquisition II Corp. is offering 40 million units in its IPO.

When will MBAC start trading?

M3-Brigade Acquisition II Corp. is expected to commence trading on March 4, 2021.

What does each unit in the MBAC IPO consist of?

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

What is the purpose of M3-Brigade Acquisition II Corp.?

The company aims to effect a merger, stock purchase, or similar business combination with a target entity.

What is the expected closing date for the MBAC IPO?

The offering is expected to close on March 8, 2021.

Who is managing the MBAC IPO?

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.