M3-brigade Acquisition III Corp. Announces Intention To Extend Period To Consummate Initial Business Combination Until October 26, 2023

M3-Brigade Acquisition III Corp. (NYSE:MBSC) ("MBSC" or the "Company") announced today that, upon the request of the Company's sponsor, M3-Brigade Sponsor III LP (the "Sponsor"), its board of directors has approved an extension of the period of time the Company has to consummate its initial business combination by three months, from the current deadline of July 26, 2023 until October 26, 2023 (the "Extension"), pursuant to the Company's amended and restated certificate of incorporation (the "Charter"). The Charter permits a total of four three-month extensions (i.e., until October 26, 2023), of which this is the fourth. 

In connection with the Extension, the Sponsor, or its affiliates or designees,  will deposit an additional $1,696,500 into the Company's trust account, in part from the Company's working capital, for the benefit of the Company's public stockholders. The Company's stockholders are not entitled to vote on or redeem their shares in connection with the Extension.