M3-Brigade Acquisition III in an amended S-1 filing said it now plans to offer 25 million units at $10 each, down from the 40 million units initially registered in May.
A unit consists of one share and one-third of a redeemable warrant.
The SPAC remains focused on businesses with an enterprise value of at least $1 billion and based in North America, specifically companies that have been impacted by the COVID-19 pandemic or businesses in the renewable energy sector.
M3-Brigade III is led by Executive Chairman Mohsin Meghji, the managing partner of M-III Partners.
The SPAC has applied to list on the NYSE under MBSC.U. Read more.
