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Liquidated · 13 Dec 2023MBAC.U · NYSECIK 1839175Sponsor at IPO: M3-Brigade Sponsor II LP

M3-Brigade Acquisition II Corp.

Name unchanged · formerly M3 Acquisition II Corp. · Name history

$400MTrust raised at IPO · 11% of public shares left after its last counted vote

  1. IPO3 Mar 2021
  2. Searching24 months
  3. Deal announced—
  4. Liquidated13 Dec 2023

Tavia Read What stands out, from the filings · snapshot 14

  1. 01

    Larger than 89% of 2021’s SPAC IPOs.

    $400M raised, against a median of $239M for the 610 SPACs that priced in 2021.

  2. 02

    89% of public shares redeemed across 1 vote.

    1 extension vote, counted from the SPAC’s 8-Ks. 11% of the public shares remained after the last one.

  3. 03

    The trust was liquidated.

    Public shares were redeemed and the SPAC did not complete a merger.

Worked out from checked figures in snapshot 14 · no forecasts or advice

Key terms

Other 2021 SPAC IPOs →
IPO priced
3 Mar 2021
IPO closed
8 Mar 2021
Raised
$400M1
Units sold
40,000,0002
Trust raised
$400M3
Trust per unit
$10.004
Unit
1 sh + ⅓ warrant5
Months to complete
246
Deadline before extensions
8 Mar 2023
Over-allotment
Not exercised

Each unit: “one share of Class A common stock and one-third of one redeemable warrant”

Name history

The same company under every name it has filed with the SEC, tracked by its CIK, 1839175. This page keeps its IPO name; the others lead here.

  1. M3-Brigade Acquisition II Corp.At IPO3 Mar 2021 – 15 Jan 2021
  2. M3 Acquisition II Corp.15 Jan 2021 – 15 Jan 2021
  3. M3-Brigade Acquisition II Corp.Now15 Jan 2021 – today

Dates are those EDGAR records for each name, as of 16 October 2026. A name change follows a shareholder vote or a merger’s closing, and is reported in an 8-K.

How it compares

M3-Brigade Acquisition II Corp. against the 610 SPACs that priced in 2021.

Raised
$400M
89% of 2021 SPACs are below it
2021 median: $239M
Trust per unit
$10.00
63% of 2021 SPACs match it
2021 median: $10.00
Months to complete
24
56% of 2021 SPACs match it
2021 median: 24
Redeemed across its votes
89%
67% of 2021 SPACs are above it
2021 median: 94%

Trust and redemptions

  1. Extension vote · 7 Mar 202335,463,019 of 40,000,000 redeemed (89%)

Public shares before each vote and the shares redeemed, as its 8-Ks (or the next 10-Q or 10-K) state them. Only votes whose redemptions were paid count.

Firms named in the prospectus

Company counsel

Underwriters’ counsel

Auditor

Other SPACs from M3-Brigade

M3-Brigade’s track record →

M3-Brigade has brought 4 SPACs to market since 1 January 2019, $1.3B in all: 1 completed, 2 searching, 1 liquidated. 1 of the 2 that reached an end completed a merger.

No SPAC named M3-Brigade I and IV is in our data. Each either priced before 1 January 2019, came to market under another name (SPACs are listed by their name at IPO), never came to market, or is not yet in an approved snapshot, so this record may understate the sponsor.

SPACIPORaisedStatusOutcomeMonths
M3-Brigade Acquisition VI Corp.26 Aug 2025$345MSearching——
M3-Brigade Acquisition V Corp.31 Jul 2024$288MSearching——
M3-Brigade Acquisition III Corp.21 Oct 2021$300MCompletedGreenfire Resources Ltd. (GFR)23
M3-Brigade Acquisition II Corp. This SPAC3 Mar 2021$400MLiquidatedTrust liquidated33

Months: from the IPO to the merger’s closing or the liquidation. SPACs are grouped by sponsor when their names, or their sponsor entities, match once the legal form and series numeral are taken off.

Peers

Other 2021 SPAC IPOs with Cantor Fitzgerald & Co. as bookrunner.

SPACIPORaisedUnitStatus
CF Acquisition Corp. VII15 Dec 2021$183M1 sh + ⅓ warrantLiquidated
Battery Future Acquisition Corp.14 Dec 2021$345M1 sh + ½ warrantCompleted
EVe Mobility Acquisition Corp14 Dec 2021$250M1 sh + ½ warrantSearching
BioPlus Acquisition Corp.2 Dec 2021$230M1 sh + ½ warrantLiquidated
Blockchain Coinvestors Acquisition Corp. I9 Nov 2021$300M1 sh + ½ warrantLiquidated

Sources

  1. PFinal prospectus: 0001193125-21-070052
  2. 1Gross proceeds: 0001193125-21-075073The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $400,000,000.
  3. 2Units sold: 0001193125-21-129047holders of the units sold in the Company’s initial public offering of 40,000,000 units, completed on March 8, 2021, may elect to separately trade
  4. 3Trust raised: 0001193125-21-079858Following the closing of the IPO on March 8, 2021, $400,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the IPO and the sale of the Private Units was placed in a Trust Account
  5. 4Trust per unit: 0001193125-21-070052$400,000,000 million or $460,000,000 million if the underwriters’ over-allotment option is exercised in full ($10.00 per unit in either case), will be deposited into a trust account
  6. 5Unit composition: 0001193125-21-070052consists of one share of our Class A common stock and one-third of one redeemable warrant
  7. 6Months to complete: 0001193125-21-070052If we are unable to complete our initial business combination within 24 months from the closing of this offering

Each quote is found word for word in the filing it cites. Where a figure here differs from the filing, the filing prevails.

How the figures are compiled
  • Which IPOs. Every final IPO prospectus (Form 424B4 or 424B1, or a 424B3 when it is the first prospectus filed on an S-1 or F-1 registration within 10 days of it going effective) filed on SEC EDGAR from the history start, by a registrant whose SIC code was 6770 (blank checks) on the filing date. Offerings that are not exchange-listed SPAC IPOs are excluded when the prospectus is read. The window starts on 1 January 2021.
  • Dated by. The date of the final prospectus.
  • Raised. Units sold to the public, including over-allotment units, times the unit price, as stated in the SPAC's 8-K reports after the IPO.
  • Trust. The trust held for public shareholders after the IPO and any over-allotment: trust per unit times public units, as stated in the SPAC's filings. Cash deposited in trust and then moved out as working capital is not counted.
  • Bookrunners. Firms the prospectus names as book-running managers; where it names none, the firm it names as sole underwriter or representative of the underwriters. Only the prospectus's own wording counts, not later 8-K reports. Each IPO's gross proceeds are split equally among its bookrunners.
  • Counsel and auditors. Issuer counsel and underwriters' counsel as named in the prospectus's Legal Matters section; the auditor as named in its Experts section. Each is credited with the IPO's full gross proceeds.
  • Unit structure. What one unit consists of, as the prospectus states it: a share with warrants, with rights, with both, or a share alone (shares-only offerings sell no units). Warrants per unit is the fraction of a warrant in each unit; rights are measured as the fraction of a share they convert into per unit.
  • Trust per unit. Dollars placed in the trust account for each unit sold to the public, as the prospectus states it.
  • Time to complete. Months from the IPO closing that the SPAC has to complete its business combination before any extension, as the prospectus states it.
  • Over-allotment. Whether the underwriters bought all, part or none of the over-allotment option, comparing units sold with the base offering and the option.
  • Votes. Shareholder votes to extend a SPAC's deadline or to approve its business combination, as reported in its 8-Ks (Item 5.07), for the SPACs in the IPO statistics only: SPACs that priced before the history start are not included, so votes in the first years under-represent the market. Only redemptions actually paid count: votes on a proposal that failed, or an extension that was approved but never took effect, are left out (redemption requests lapse with them), and a merger vote counts only when the deal closed, and only the last merger vote before the closing, since merger redemptions are paid at closing. Liquidation votes are left out too, as every public share is redeemed by definition.
  • Redemption rate. Public shares redeemed at a vote over public shares outstanding just before it. Shares redeemed are as an 8-K, or failing that the next 10-Q or 10-K, states them. Shares before are as a filing states them, or redeemed plus the shares left after, or carried from the IPO's public shares and earlier votes. The median is the typical vote; the weighted rate divides all shares redeemed by all shares before, the share of public money that left the trusts. A vote counts only when each of these figures is verified or accepted. Votes whose redemption count no filing states, after a search of the SPAC's and the combined company's filings, are counted as not disclosed rather than estimated.
  • Outcomes. Where each SPAC stands as of the snapshot: completed (business combination closed), liquidated (trust returned and redeemed), deal pending (agreement signed, not closed) or searching (no agreement in force). Grouped by the year the SPAC priced its IPO. Awaiting review means its status is still being checked.
  • Closings. Completed business combinations by year of closing. The sector is the SEC's industry code (SIC) of the combined company, grouped into broad sectors; months from IPO run from the prospectus date to the closing.
  • Checking. A SPAC counts only when every required figure is verified (quote found verbatim in the filing and all cross-checks pass) or accepted by a named reviewer.
  • Coverage. 1,077 of the 1,089 SPAC IPOs read are counted; 12 wait on a figure still under review and 11 filings were excluded as not exchange-listed SPAC IPOs.

Compiled from SEC filings with the assistance of AI · figures as of 3 November 2026

For information only. These figures are compiled from SEC filings with the assistance of AI. Although they are checked against those filings, they may contain errors or omissions and have not been audited; where they differ from the filings, the filings prevail. They are not an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. Information about any SPAC is qualified in its entirety by its filings with the SEC, available at www.sec.gov.