M3-Brigade Acquisition II Corp.
MBAC-WT
New York Stock Exchange0.00
USD
-0.01
- -
CIK
0001839175
Return %
Stock
S&P500
1Y
-91.33
26.53
3Y
-91.33
76.60
5Y
-91.33
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- CIK
- 0001839175
- Similar Companies
- Business
- M3-Brigade Acquisition II Corp. (NYSE:MBAC-WT) operates as a blank check company, or special purpose acquisition company (SPAC), whose sole purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses; it focuses primarily on North American companies impacted by the COVID-19 pandemic or those in the renewable energy sector (or related products or services) with an enterprise value of at least $1 billion. The company holds no significant operating assets or liabilities other than investment of proceeds from its initial public offering into U.S. Treasury securities held in a trust account. Incorporated in Delaware on December 16, 2020, and headquartered in New York, NY, it completed its IPO of 40,000 units at $10 each on March 8, 2021, generating $400 million in gross proceeds. In August 2021, M3-Brigade Acquisition II entered into a merger agreement valued at approximately $2.85 billion with Syniverse Technologies LLC, a global communications technology provider; the deal included up to $1.165 billion in cash proceeds, comprising trust funds, a $265 million PIPE financing, and a potential $750 million investment from Twilio Inc., with Syniverse shareholders rolling 100% of their equity to own about 40% of the combined entity. The merger terminated mutually in February 2022 due to unfavorable market conditions and excessive stockholder redemptions exceeding minimum trust thresholds, prompting cancellation of a planned special stockholder meeting. Unable to identify and complete an alternative business combination by its extended deadline, the company redeemed all outstanding Class A common stock on November 30, 2023, at approximately $10.44 per share from trust proceeds, with the last trading day for its shares, units, and warrants (MBAC-WT) on or about December 8, 2023.