M3-Brigade up on SPAC deal to take Syniverse public

M3-Brigade Acquisition II

17/08/2021 14:04

** Shares of blank-check co M3-Brigade Acquisition II Corp
 MBAC.N  up as much as 1% at $9.83 premarket 
    ** Telecoms services firm Syniverse Technologies LLC plans
to go public through a merger deal with co that would give it an
enterprise value of $2.85 billion  urn:newsml:reuters.com:*:nL4N2PN4X0
    ** Deal is expected to provide up to $1.165 billion of cash
proceeds to the combined company
    ** MBAC will provide up to $400 million of cash held in
MBAC's trust account from its initial public offering in March
2021
    ** The transaction is expected to close before the end of
2021
    ** Co is led by CEO Mo Meghji that raised $400 million in a
March IPO

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))