M3-BRIGADE ACQUISITION II CORP. ANNOUNCES CANCELLATION OF SPECIAL MEETING OF STOCKHOLDERS

NEW YORK, Dec. 21, 2022 /PRNewswire/ -- M3-Brigade Acquisition II Corp. (NYSE: MBAC) ("MBAC" or the "Company") announced today the cancellation of its special meeting of stockholders (the "Special Meeting") originally scheduled for December 19, 2022, and postponed to December 23, 2022, and to withdraw from consideration by the stockholders of MBAC the proposals set forth in MBAC's Definitive Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on December 7, 2022.  MBAC has determined to cancel the Special Meeting because it received insufficient withdrawals of previous elections by MBAC's stockholders to redeem all of their shares of MBAC Class A common stock.  MBAC had previously announced that it did not anticipate proceeding with the Special Meeting if the amount in MBAC's trust account would fall below $45 million post-redemptions.  As a result of the cancellation of the Special Meeting, the Company will not complete any redemption of shares of MBAC Class A common stock previously elected by MBAC's stockholders.  Any shares of MBAC Class A common stock already submitted for redemption will be returned to stockholders promptly.  MBAC intends to continue to seek a target for its initial business combination prior to MBAC's scheduled termination date on March 8, 2023.

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