M3-Brigade Acquisition V Corp.

M3-Brigade Acquisition V Corp. announced significant leadership changes, effective June 18, 2026. Chinh Chu, the current President, was appointed as the new principal executive officer. This follows the resignations of Robert Rivas Collins as CEO, Eric Greenhaus as CFO, and Matthew Perkal as COO. Additionally, directors Mohsin Y. Meghji, Benjamin Fader-Rattner, and Matthew Perkal resigned from the Board and its committees. The company stated that none of the resignations were due to any disagreements.

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.

M3-Brigade Acquisition V Corp. has postponed its extraordinary general meeting of shareholders, originally set for June 15, 2026, to June 18, 2026. This postponement is to allow shareholders more time to consider the proposed business combination with ReserveOne, Inc. and to submit their proxies. Additionally, the deadline for shareholders to exercise their redemption rights has been extended from June 11, 2026, to June 16, 2026.

M3-Brigade Acquisition V Corp. announced that the registration statement for its proposed business combination with ReserveOne, Inc. was declared effective by the SEC on May 13, 2026, with closing expected in Q2 2026. The company reported a net income of $1.71 million for the three months ended March 31, 2026, a decrease from $2.91 million in the prior year. The company also noted a working capital deficit of $6.98 million and raised substantial doubt about its ability to continue as a going concern.