M3-Brigade Acquisition II Corp.

CIK:0001839175|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Formation and operating costs	$ 180,841	$ 259,391	$ 1,572,822	$ 1,386,557
Terminated merger transaction costs (costs waived)				(5,400,000)
(Loss) Income from operations	(180,841)	(259,391)	(1,572,822)	4,013,443
Other income (expense):
Change in fair value of warrant liabilities	(233,334)	739,327	118,666	25,265,655
Interest earned on marketable securities held in Trust Account	614,194	1,904,877	5,059,996	2,023,937
Total Other income, net	380,860	2,644,204	5,178,662	27,289,592
Income before provision for income taxes	200,019	2,384,813	3,605,840	31,303,035
Provision for income taxes	(118,481)	(262,867)	(1,031,099)	(262,867)
Net income	$ 81,538	$ 2,121,946	$ 2,574,741	$ 31,040,168
Class A Common Stock Subject to Possible Redemption
Other income (expense):
Basic weighted average shares outstanding (in Shares)	4,536,981	40,000,000	13,240,359	40,000,000
Basic net income per share (in Dollars per share)	$ 0.01	$ 0.04	$ 0.11	$ 0.62
Non Redeemable Common Stock
Other income (expense):
Basic weighted average shares outstanding (in Shares)	10,000,000	10,000,000	10,000,000	10,000,000
Basic net income per share (in Dollars per share)	$ 0.01	$ 0.04	$ 0.11	$ 0.62

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities:
Net income	$ 2,574,741	$ 31,040,168
Adjustments to reconcile net income to net cash used in operating activities:
Interest earned on marketable securities held in Trust Account	(5,059,996)	(2,023,937)
Change in fair value of warrant liabilities	(118,666)	(25,265,655)
Terminated merger transaction costs waived		(5,400,000)
Excess fair value over founders shares consideration	781,304
Changes in operating assets and liabilities:
Prepaid expense and other assets	(2,500)	(52,762)
Due from affiliate	(1,270)
Prepaid income taxes	162,124	262,867
Prepaid insurance – short term	49,618	285,612
Prepaid insurance – long term		85,821
Accrued expenses	(310,037)	408,785
Accrued terminated merger transaction costs		(117,029)
Net cash used in operating activities	(1,924,682)	(776,130)
Cash Flows from Investing Activities:
Cash withdrawn for taxes	1,318,974
Cash withdrawn from Trust Account in connection with redemption	360,075,560
Net cash provided by investing activities	361,394,534
Cash Flows from Financing Activities:
Advances from related party	499,720
Repayment of advances from related party	(8,998)
Redemption of common stock	(360,075,559)
Net cash used in financing activities	(359,584,837)
Net Change in Cash	(114,985)	(776,130)
Cash – Beginning of period	124,855	987,254
Cash – End of period	9,870	211,124
Supplementary cash flow information:
Cash paid for income taxes	868,975
Non-Cash investing and financing activities:
Terminated merger transaction costs waived		5,400,000
Accretion for Class A common stock to redemption amount	3,817,346	1,421,296
Excise tax payable attributable to redemption of common stock	$ 3,600,756

Condensed Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash	$ 9,870	$ 124,855
Prepaid expenses and other current assets	2,500
Due from affiliate	3,220	1,950
Short-term prepaid insurance	36,202	85,820
Prepaid income taxes	196,470	358,594
Total current assets	248,262	571,219
Investment and marketable securities held in trust	47,762,784	404,097,322
TOTAL ASSETS	48,011,046	404,668,541
Current liabilities:
Accrued expenses	705,434	1,015,471
Accrued terminated merger transaction costs	400,000	400,000
Excise tax payable attributable to redemption of common stock	3,600,756
Due to affiliates	506,934	16,212
Total current liabilities	5,213,124	1,431,683
Warrant liability	606,667	725,333
Deferred underwriters discount	14,000,000	14,000,000
Total liabilities	19,819,791	16,157,016
Commitments
Class A Common Stock subject to possible redemption, 4,536,981 and 40,000,000 shares at redemption value as of September 30, 2023 and December 31, 2022, respectively	47,762,784	404,020,997
Stockholders’ Deficit
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Additional paid in capital
Accumulated deficit	(19,572,529)	(15,510,472)
Total Stockholders’ Deficit	(19,571,529)	(15,509,472)
TOTAL LIABILITIES, CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION AND STOCKHOLDERS’ DEFICIT	48,011,046	404,668,541
Class A Common Stock
Stockholders’ Deficit
Common shares, value
Class B Common Stock
Stockholders’ Deficit
Common shares, value	$ 1,000	$ 1,000