M3-Brigade Acquisition V Corp. Class A
VLOS
NASDAQ10.68
USD
-0.02
- -
CIK
0002016072
ISIN
KYG632121078
Return %
Stock
S&P500
1Y
-1.84
15.98
3Y
-1.84
62.25
5Y
-1.84
67.55
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Chinh E. Chu
- Sector
- Financial Services
- Industry
- Financial - Conglomerates
- Address
- 1700 Broadway New York NY United States of America 10019
- IPO Date
- Aug 1, 2024
- CIK
- 0002016072
- Website
- m3-brigade.com
- Similar Companies
- Business
- M3-Brigade Acquisition V Corp., now operating as Velos Acquisition I Corp. (Nasdaq: VLOS), is a special purpose acquisition company (SPAC) formed in March 2024 for the purpose of effecting a merger, capital stock exchange, share purchase, reorganization, or similar business combination with one or more target businesses. The company does not engage in commercial operations or generate revenue from traditional business activities; rather, it functions as a publicly listed investment vehicle designed to identify, acquire, and combine with a private operating company, thereby enabling that company to become publicly traded. As a blank check company, Velos Acquisition I Corp. offers no products or services beyond its role as a SPAC, and its primary activity is the evaluation and negotiation of potential business combinations, primarily within sectors related to digital assets and transformational growth opportunities. The company completed its initial public offering (IPO) in August 2024, raising approximately $287.5 million through the sale of 25,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable public warrant. The IPO was listed on the Nasdaq Global Market under the ticker symbols MBAVU (units), MBAV (shares), and MBAVW (warrants), and the offering included an over-allotment option for up to 3,750,000 additional units. Following the IPO, M3-Brigade Sponsor V LLC, a Delaware limited liability company affiliated with M3 Partners, LP, served as the initial sponsor, with Mohsin Y. Meghji as Executive Chairman and Matthew Perkal as Chief Executive Officer. In May 2025, M3-Brigade Sponsor V LLC sold its controlling interest in the SPAC to MI7 Sponsor, LLC, a Delaware limited liability company and an affiliate of CC Capital beneficially owned by Chinh Chu, marking a significant change in ownership and strategic direction. Following this transaction, the company announced its intention to pursue a business combination target in industries relating to digital assets and planned to rebrand as CCRC Digital Assets Corp., with Reeve Collins, co-founder of Tether, appointed as Chief Executive Officer and Chinh Chu as President. The company also expanded its board of directors and secured additional private placement warrants to support its search for a digital asset-focused merger target. In July 2025, M3-Brigade entered into a definitive business combination agreement with ReserveOne, Inc., a newly formed digital asset management firm, in a reverse merger transaction valued at approximately $1 billion. The proposed transaction was expected to provide more than $1 billion in gross proceeds, including up to approximately $297.7 million held in the company's trust account (assuming no redemptions), $750 million in committed capital from institutional investors (comprising $500 million of common equity and warrants), and $250 million in convertible notes. Upon closing, ReserveOne's shares and warrants were expected to trade under the ticker symbols RONE and RONEW, respectively. However, on June 12, 2026, ReserveOne cancelled the acquisition agreement, terminating the planned reverse merger. Following the cancellation of the ReserveOne transaction, the company underwent a series of significant corporate governance changes. At a shareholder meeting held on July 17, 2026, shareholders approved amendments to extend the deadline to complete an initial business combination by 12 months to August 2, 2027; authorized the withdrawal of up to $0.10 of trust interest per non-redeemed Public Share (with $1,000,000 earmarked for ordinary expenses and any excess for accrued liabilities); approved a corporate name change from M3-Brigade Acquisition V Corp. to Velos Acquisition I Corp.; and removed the fairness opinion requirement from the company's Articles of Association. In connection with these amendments, holders redeemed 12,455,589 Class A shares at approximately $10.88 per share, leaving approximately $177,286,938 in the Trust Account. The company also issued a no-interest promissory note to its sponsor, MI7 Sponsor, LLC, allowing borrowings up to $4,000,000, of which $3,500,000 has been drawn as of July 21, 2026. Effective July 23, 2026, the company's Nasdaq trading symbols changed from MBAV, MBAVU, and MBAVW to VLOS, VLOSU, and VLOSW for Class A shares, units, and warrants, respectively, reflecting its rebranding as Velos Acquisition I Corp. The post-redemption capital structure includes 23,481,911 Class A ordinary shares outstanding, with no Class B shares remaining after the sponsor's conversion of 7,187,500 Class B shares into Class A shares. Of the converted shares, 4,279,275 were subsequently sold to investors, and 7,612,155 private placement warrants were transferred under voting support and non-redemption agreements. Velos Acquisition I Corp. is headquartered in New York, New York, with its principal executive offices located at 1700 Broadway, 19th Floor, New York, NY 10019. The company operates under the sponsorship of MI7 Sponsor, LLC, an affiliate of CC Capital, and maintains its trust account with Continental Stock Transfer & Trust Company serving as transfer agent. As a SPAC, the company's business strategy remains focused on identifying and consummating a business combination with a target company in the digital assets or related transformational growth sectors, with the current deadline for completing such a transaction set for August 2, 2027.