Paul, Weiss, Rifkind, Wharton & Garrison LLP

10/26/2021 | News release | Archived content

M3-Brigade Acquisition III Corp. Completes Upsized IPO

Paul, Weiss advised special purpose acquisition company M3-Brigade Acquisition III Corp. in its upsized $300 million initial public offering. The offering included 30,000,000 units after the underwriter partially exercised its over-allotment option. Each unit consists of one share of Class A common stock and one-third of one public warrant, with each whole public warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50. The units are trading under the ticker symbol "MBSC.U" on the New York Stock Exchange.

Simultaneously with the IPO's closing, the company completed the private sale of 7,526,667 private placement warrants to the company's sponsor, M3-Brigade Sponsor III LP, and underwriter Cantor Fitzgerald & Co., generating gross proceeds of $11.29 million.

The Paul, Weiss team included corporate partner David Huntington and counsel David Curtiss; restructuring partners Paul Basta and Alice Eaton; and tax partner Brian Krause.