M3-Brigade Acquisition II, the second blank check company formed by turnaround veteran Mohsin Meghji, raised the proposed deal size for its upcoming IPO on Monday.
The New York, NY-based company now plans to raise $400 million by offering 40 million units at $10. The company had previously filed to offer 30 million units at the same price. Each unit still consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the revised deal size, M3-Brigade Acquisition II will raise 33% more in proceeds than previously anticipated.
The company is led by CEO and Chairman Mohsin Meghji, who currently serves as the Managing Partner of corporate advisory firm M-III Partners. He is joined by CFO Brian Griffith, who currently serves as a Managing Director of M-III Partners. The group's previous SPAC, M III Acquisition, raised $150 million in July 2016 and completed its acquisition of Infrastructure and Energy Alternatives (Nasdaq: IEA; +79% from $10 offer price) in May 2019.
M3-Brigade Acquisition II was founded in 2020 and plans to list on the NYSE under the symbol MBAC.U. Cantor Fitzgerald is the sole bookrunner on the deal.
