M3-Brigade Acquisition V Corp. announced that starting September 23, 2024, holders of units from its initial public offering (IPO) on August 2, 2024, can elect to trade the Class A ordinary shares and warrants separately. The IPO included 28,750,000 units, with 3,750,000 units issued through underwriters' overallotment. Separated Class A shares and warrants will trade on the Nasdaq Global Market under the symbols MBAV and MBAVW, respectively. Units not separated will continue to trade under the symbol MBAVU. No fractional warrants will be issued; only whole warrants will trade. Brokers must contact Continental Stock Transfer & Trust Company to separate the units. The registration statement for these securities was declared effective by the SEC on July 31, 2024. Cantor Fitzgerald & Co. was the sole book-running manager for the offering.
M3-Brigade Acquisition V Corp. (MBAVU) has successfully closed its initial public offering of 28,750,000 units at $10.00 per unit, raising a total of $287.5 million. The offering included the full exercise of the underwriters' over-allotment option for 3,750,000 units. Each unit comprises one Class A ordinary share and one-half of a redeemable public warrant.
The units began trading on the Nasdaq Global Market under the ticker symbol 'MBAVU' on August 1, 2024. Once separate trading begins, the Class A ordinary shares and public warrants are expected to trade under 'MBAV' and 'MBAVW', respectively. The company, led by Executive Chairman Mohsin Y. Meghji and CEO Matthew Perkal, aims to pursue a business combination in various sectors.