Financial Performance - The Company reported a net loss of $491,393 for the three months ended September 30, 2025, with general and administrative costs of $2,868,287 and compensation expenses of $765,773, offset by $3,142,667 from interest earned on marketable securities held in the Trust Account[177]. - For the nine months ended September 30, 2025, the Company had a net income of $4,606,168, consisting of $9,331,539 from interest earned on marketable securities, offset by $3,913,871 in general and administrative costs and compensation expenses of $811,500[178]. Marketable Securities - As of September 30, 2025, the Company had marketable securities held in the Trust Account amounting to $303,948,781, which will be primarily used to complete the Business Combination[184]. Initial Public Offering - The Company raised gross proceeds of $287,500,000 from the Initial Public Offering of 28,750,000 Units at $10.00 per Unit, including the full exercise of the over-allotment option[181]. - The Company incurred transaction costs of $19,406,996 related to the Initial Public Offering, which included $5,000,000 in cash underwriting fees and $13,400,000 in deferred underwriting fees[182]. Business Combination - The Closing of the Business Combination is expected to occur in the first quarter of 2026, subject to customary closing conditions[175]. - The Company may need to raise additional funds to complete the Business Combination or to cover potential redemptions of Public Shares[188]. Financial Position - The Company has no long-term debt or off-balance sheet arrangements as of September 30, 2025[190]. - The Company has the option to borrow up to $2,500,000 from the Sponsor under a Note, which bears no interest and is payable on the Maturity Date[183]. Use of Funds - The Company intends to use funds held outside the Trust Account primarily for identifying and evaluating target businesses and performing due diligence[185].
M3-Brigade Acquisition V Corp.(MBAVU) - 2025 Q3 - Quarterly Report