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M3-Brigade Acquisition V Corp. (MBAV+0.59%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's status as a blank check company, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The company completed its initial public offering on August 2, 2024, raising gross proceeds of $287,500,000 through the sale of 28,750,000 units.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50 per share.
The company has not yet identified a target for its initial business combination and has not engaged in any operations or generated any revenues to date.
The report outlines various risk factors, including the potential for the company to be deemed an investment company under the Investment Company Act, which could impose additional regulatory burdens.
M3-Brigade Acquisition V Corp. is required to complete its initial business combination within 24 months of the IPO closing date or return funds to investors.
The company has identified general criteria for evaluating potential business combination targets but may enter into a combination with a target that does not meet all these criteria.
The management team and directors have fiduciary duties to other entities, which may result in conflicts of interest in determining which business opportunities to pursue.
The filing also discusses the company's financial position, including $294,617,243 held in a trust account as of December 31, 2024, intended for use in completing a business combination.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the M3-Brigade Acquisition V Corp. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.