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M3-Brigade Acquisition V Corp. (NASDAQ:MBAV) announced an amendment to its convertible promissory note with M17 Sponsor, LLC, according to a statement in a recent SEC filing.
On Wednesday, the company and its sponsor entered into a First Amendment to the Note, which was originally issued on June 18, 2025. The amendment corrects a clerical error regarding the sponsor’s option to convert up to $1,500,000 of the outstanding unpaid principal balance under the note into private placement warrants. The purchase price per private placement warrant upon conversion was changed from $1.50 to $1.00. All other terms of the note remain unchanged.
The original note allows M3-Brigade Acquisition V Corp. to borrow up to $2,500,000 from its sponsor, of which $500,000 has already been borrowed as of June 18, 2025.
The company’s securities, including units (each consisting of one Class A ordinary share and one-half of one redeemable warrant), Class A ordinary shares, and warrants, are listed on the Nasdaq Stock Market under the symbols MBAVU, MBAV, and MBAVW, respectively.
This information is based on a press release statement included in the company’s Form 8-K filed with the Securities and Exchange Commission.
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