M3-Brigade Acquisition V Corp. Terminates ReserveOne Merger, Raises $14.25M

M3-Brigade Acquisition V Corp. (MBAV) announced the mutual termination of its Business Combination Agreement with ReserveOne, Inc. due to significant changes in market conditions impacting the digital asset sector. Concurrently, MBAV entered into Securities Purchase Agreements with its sponsor, MI7 Sponsor, LLC, and certain investors, selling 4,279,279 Class A ordinary shares for $14.25 million at $3.33 per share. The company will also seek shareholder approval to extend its business combination deadline by one year to August 2, 2027, and plans to change its name to Velos Acquisition I Corp. Agreements are in place to secure shareholder votes and prevent redemptions, with the sponsor transferring warrants as consideration.