M3-Brigade Acquisition V, a blank check company led by turnaround veteran Mohsin Meghji targeting energy in North America, filed on Wednesday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, M3-Brigade Acquisition V would command a market value of $313 million.
The company is led by CEO and Chairman Mohsin Meghji, who currently serves as Managing Partner of financial advisory firm M3 Partners. He is joined by President and Director Matthew Perkal, who leads industry coverage for various sectors at investment advisor Brigade Capital Management. The SPAC plans to target the energy sector in North America, focusing on businesses with enterprise values of at least $1 billion.
Management's most recent SPACs include M3-Brigade Acquisition IV, which withdrew its planned offering in March 2022; M3-Brigade Acquisition III, which completed its combination with oil sands producer Greenfire Resources (GFR; -42% from $10 offer price) in September 2023; and M3-Brigade Acquisition II, which liquidated in December 2023.
M3-Brigade Acquisition V was founded in 2024 and plans to list on the Nasdaq under the symbol MBAV.U. The company filed confidentially on April 19, 2024. Cantor Fitzgerald is the sole bookrunner on the deal.
