Wednesday, September 27, 2023

SPAC Brigade-M3 European Acquisition Corp. did not acquire anything and is now: BM3EAC Corp.

SPAC: special purpose acquisition company 

People buy shares at $10 or EUR 10 and hope the bag of money is used to buy a company. The first in The Netherlands was Dutch Star One which bought https://www.cm.com/ the stock then went as high as EUR 44 so initial investors could have made a lot of profit. 

Other SPAC investors fared a lot worse. Brigade-M3 European Acquisition Corp. investors seem to have gotten their investment back, there was no acquisition.  People got their money back? 

No longer listed? 

Amsterdam – 10 August 2023  Brigade-M3 European Acquisition Corp. (the "Company"), a special purpose acquisition company incorporated under the laws of the Cayman Islands as an exempted company with limited liability and listed on Euronext Amsterdam, the regulated market operated by Euronext Amsterdam N.V., announces that, following the redemption of all listed unit shares and ordinary shares in the share capital of the Company (the "Units" and "Ordinary Shares", respectively) and pursuant to unanimous written resolutions of the shareholders of the Company passed on 9 August 2023, the following changes are effective:  (i) the Company's name has been changed from Brigade-M3 European Acquisition Corp. to BM3EAC Corp. (ii) the Company's memorandum and articles of association (the "Memorandum and Articles of Association") have been amended and restated in order to facilitate the re-purposing and continuation of the Company;  (iii) all issued Units have been re-designated as Ordinary Shares; and (iv) the Company's authorised share capital has been amended from US$53,000 to US$28,000 by the cancellation of the authorised but unissued Units.  

AMENDED AND RESTATED MEMORANDUM OF ASSOCIATION OF BM3EAC CORP. (ADOPTED BY SPECIAL RESOLUTION DATED 9 AUGUST 2023) 1 The name of the Company is BM3EAC Corp..  2 The Registered Office of the Company shall be at the offices of Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands, or at such other place within the Cayman Islands as the Directors may decide. 3 The objects for which the Company is established are unrestricted and the Company shall have full power and authority to carry out any object not prohibited by the laws of the Cayman Islands. 4 The liability of each Member is limited to the amount unpaid on such Member's shares. 5 The share capital of the Company is US$28,000.00 divided into 250,000,000 Ordinary Shares of a par value of US$0.0001 each and 30,000,000 Sponsor Shares of a par value of US$0.0001 each. 6 The Company has power to register by way of continuation as a body corporate limited by shares under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands. 7 Capitalised terms that are not defined in this amended and restated Memorandum of Association bear the respective meanings given to them in the amended and restated Articles of Association of the Company. 

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