Tether Co-Founder Reeve Collins and CC Capital Affiliate Purchase Sponsor Interests in SPAC to Acquire Digital Assets
Digital Assets Industry Veteran Reeve Collins to Serve as Chief Executive Officer
NEW YORK, May 27, 2025 /PRNewswire/ -- M3-Brigade Acquisition V Corp., a Cayman Islands exempted company (NASDAQ: MBAVU, MBAV, MBAVW) ("M3-Brigade"), announced the closing of a transaction in which MI7 Sponsor, LLC, a Delaware limited liability company and a CC Capital affiliate, along with Reeve Collins ("New Sponsor"), purchased 7,187,500 Class B ordinary shares and 5,043,750 private placement warrants of M3-Brigade owned by M3-Brigade Sponsor V LLC, a Delaware limited liability company ("Original Sponsor"), for an aggregate purchase price of $6,467,500. Additionally, the New Sponsor expects to purchase 3,293,750 additional private placement warrants of M3-Brigade from Cantor Fitzgerald & Co.
Following the transactions, M3-Brigade intends to seek a business combination target in industries relating to digital assets. The company plans to change its name to CCRC Digital Assets Corp.
https://www.otcmarkets.com/stock/MBAV/news/Tether-Co-Founder-Reeve-Collins-and-CC-Capital-Affiliate-Purchase-Sponsor-Interests-in-SPAC-to-Acquire-Digital-Assets?e&id=3249788