M3 Brigade Acquisition Ii Stock Price, News & Analysis

M3-Brigade Acquisition II Corp. (NYSE: MBAC) is a special purpose acquisition company (SPAC) based in Delaware. The primary mission of MBAC is to effect a merger, stock purchase, or similar business combination with one or more businesses. The company is led by experienced executives from M3 Partners, LP, and Brigade Capital Management, LP, renowned firms specializing in financial advisory and credit-focused investment strategies respectively.

MBAC recently announced its decision to redeem all outstanding Class A common stock, with the redemption set to be effective around December 13, 2023. This move follows the company's inability to consummate an initial business combination within the designated time frame as per its amended and restated certificate of incorporation filed with the U.S. Securities and Exchange Commission on March 10, 2021.

On March 7, 2023, MBAC held an extraordinary general meeting where shareholders approved the extension to complete a business combination from March 8, 2023, to December 8, 2023. Despite the extension, the company could not finalize a business combination by the new deadline. Consequently, MBAC will cease all operations except for winding up, initiate redemption of 100% of its issued and outstanding public shares, and proceed with dissolution and liquidation.

The per-share redemption price is projected to be approximately $10.60, and the process will be handled by Continental Stock Transfer & Trust Company. The company has also indicated that there will be no redemption rights or liquidating distributions for its warrants, which will expire worthless.

After the last trading day of the company's public shares, MBAC expects the New York Stock Exchange to file a Form 25 to delist its securities and subsequently file a Form 15 to terminate the registration of its securities under the Securities Exchange Act of 1934. This sequence of events marks the end of MBAC's journey as a public entity, with the aim of responsibly winding down operations and returning capital to shareholders.

For further information and updates, visit www.m3-brigade.com.