Greenfire Resources SPAC Deal: $950M IPO
- Canadian energy producer Greenfire Resources will become a publicly listed company through a merger with M3-Brigade Acquisition III Corp, a special purpose acquisition company.The deal gives Greenfire Resources...
- Upon completion of the transaction, current Greenfire Resources shareholders are expected to hold about 81% of the new entity.
- The merger, anticipated to close in the second quarter of 2023, will result in Greenfire listing on the New York Stock Exchange.
Greenfire Resources is set to go public through a SPAC merger with M3-Brigade Acquisition III Corp, a deal valuing the Canadian energy producer at an notable $950 million. This strategic move will see Greenfire shareholders retain approximately 81% ownership, positioning the company for important growth. The listing on the NYSE is slated for Q2 2023, marking a pivotal moment for this primarykeyword. With $170 million in debt included in the enterprise value, the post-money equity is estimated at $780 million.The existing Greenfire executive team will continue to lead, ensuring a smooth transition. This secondarykeyword is a noteworthy development in the energy market, offering investors a new chance in the public sphere. Stay informed with News Directory 3 for breaking business news. Discover what’s next for greenfire in the coming months.
Greenfire resources to Go Public via SPAC Merger
Updated May 29, 2025
Canadian energy producer Greenfire Resources will become a publicly listed company through a merger with M3-Brigade Acquisition III Corp, a special purpose acquisition company.The deal gives Greenfire Resources an enterprise value of $950 million, which includes $170 million of debt. The combined company’s post-money equity is projected to be $780 million.
Upon completion of the transaction, current Greenfire Resources shareholders are expected to hold about 81% of the new entity.
The merger, anticipated to close in the second quarter of 2023, will result in Greenfire listing on the New York Stock Exchange. The new parent company, Greenfire Resources ltd., will be an Alberta corporation overseeing both Greenfire and M3-Brigade. The existing executive team of Greenfire is expected to continue managing the company.
Greenfire Resources is the latest energy company to pursue a public listing via a SPAC merger, even as the broader market faces headwinds.
What’s next
Following the anticipated closing of the merger in Q2 2023, Greenfire Resources will focus on expanding its operations and leveraging its position as a publicly traded company in the energy sector.