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M3-Brigade Acquisition III Corp. (NYSE: MBSC) is a special purpose acquisition company (SPAC) listed on the New York Stock Exchange. The company's primary objective is to effect a merger, stock purchase, or similar business combination with one or more businesses. MBSC was organized by the founders and senior executives of M3 Partners, LP, and Brigade Capital Management, LP, who bring extensive expertise in financial management and strategic growth.
Recently, the company announced that its sponsor, M3-Brigade Sponsor III LP, has deposited $1,696,500 into MBSC's trust account. This deposit, sourced partially from the company's working capital, extends the period for the company to complete its initial business combination until October 26, 2023. As of now, MBSC's trust account holds approximately $312,853,334.85.
MBSC is focused on identifying and partnering with companies that have strong growth potential and can benefit from its management team’s operational and financial expertise. The company takes a disciplined approach to evaluating potential business combinations, looking for opportunities that can deliver significant value to its shareholders.
The company's leadership team includes experienced professionals from M3 Partners, LP and Brigade Capital Management, LP, who have a track record of successfully investing in and guiding companies through various stages of growth and development. This expertise positions MBSC well to navigate the complexities of mergers and acquisitions, ensuring that any business combination it undertakes is in the best interests of its shareholders.
MBSC's commitment to transparency and shareholder value is evident through their detailed communication and regular updates. Investors looking to understand the company’s current projects, financial health, and strategic direction will find MBSC's announcements and reports to be a rich source of information.
M3-Brigade Acquisition III Corp. (NYSE: MBSC) announced a deposit of
M3-Brigade Acquisition III Corp. (NYSE: MBSC) announced a deposit of $1,696,500 by its sponsor on January 26, 2023, into the trust account for public stockholders. This funding extension allows the company to finalize its initial business combination with Greenfire Resources Inc. until April 26, 2023. With around $307,291,000 currently in the trust account, the sponsor plans to request additional time extensions, up to a maximum of four three-month periods, allowing an extension until October 26, 2023.
Greenfire Resources Inc. and M3-Brigade Acquisition III Corp. (NYSE: MBSC) have announced a definitive agreement for a business combination valuing Greenfire at US$950 million. The transaction, expected to close in Q2 2023, will create the Combined Company, Greenfire Resources Ltd. (GRL), with existing shareholders of Greenfire owning approximately 81% to 87% of GRL after accounting for potential MBSC stock redemptions. Greenfire plans to enhance production and profitability from its existing assets while deleveraging its balance sheet and returning capital to stakeholders.
M3-Brigade Acquisition III Corp. (NYSE: MBSC) announced on October 25, 2022, that its sponsor deposited $1,696,500 into its trust account to extend the period for completing an initial business combination until January 26, 2023. The trust account now holds approximately $305,088,901.38. The company aims to merge with businesses with an enterprise value of at least $1 billion, focusing on sectors impacted by COVID-19 or renewable energy.
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