According to Foresight News, digital asset management company ReserveOne has announced that it has reached a final business merger agreement with special purpose acquisition company M3-Brigade Acquisition V Corp. (Nasdaq stock codes: MBAVU, MBAV, MBAVW). ReserveOne will hold and manage various cryptocurrencies based on Bitcoin, including Ethereum, Solana, and other cryptocurrencies with potential for generating revenue through institutional staking and lending.
This transaction is expected to bring in over $1 billion in total revenue, including (i) up to approximately $297.7 million in capital held in the M3-Brigade trust account (assuming no redemption) and (ii) committed capital of $750 million from major institutional investors under subscription agreements, which includes $500 million in common stock and warrants, as well as convertible notes with a principal amount of $250 million ("PIPE issuance"). ReserveOne will be led by CEO Jaime Leverton, an industry veteran who previously served as CEO of Hut 8, the first publicly listed company to incorporate Bitcoin into its balance sheet. Coinbase will serve as the custodian for ReserveOne's Bitcoin asset guarantees.
