Turnaround veteran's SPAC M3-Brigade Acquisition IV withdraws $200 million IPO

M3-Brigade Acquisition IV, the fourth blank check company led by turnaround veteran Mohsin Meghji targeting the renewable energy space, withdrew its plans for an initial public offering on Thursday. It had filed in June 2021 to raise $200 million by offering 20 million units at $10, with each unit containing one share of common stock and one-third of a warrant.

The company was set to be led by Executive Chairman Mohsin Meghji, who currently serves as the Managing Partner of corporate advisory firm M-III Partners. He was to be joined by CEO Matthew Perkal, who leads industry coverage for various sectors at Brigade Capital Management, and CFO Brian Griffith, who currently serves as a Managing Director of M-III Partners.

The group's previous SPACs include October 2021 IPO M3-Brigade Acquisition III (MBSC.U); March 2021 IPO M3-Brigade Acquisition II (MBAC), which terminated its merger agreement with Syniverse Technologies this past February; and 2016 IPO M III Acquisition, which completed its acquisition of Infrastructure and Energy Alternatives (Nasdaq: IEA) in 2019.

The New York, NY-based company was founded in 2021 and had planned to list on the NYSE under the symbol MBD.U. Cantor Fitzgerald was set to be the sole bookrunner on the deal.