---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-249124"
form_type: "8-K"
ticker: "TWLO"
cik: "0001447669"
company_name: "TWILIO INC"
filed_at: "2021-08-17T23:59:59+00:00"
generated_at: "2026-06-29T09:31:05.061949+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Twilio commits up to $750M investment in Syniverse SPAC merger at $2.85B enterprise value

## Summary
- Twilio will invest $500M minimum up to $750M in Syniverse as part of de-SPAC merger with M3-Brigade Acquisition II Corp. (MBAC).
- Syniverse enterprise valued at $2.85B; merger expected to close by end of 2021, subject to MBAC stockholder approval and HSR clearance.
- Existing Syniverse shareholders (including Carlyle) rolling 100% of equity; Twilio becomes significant minority owner.
- PIPE of $265M committed from Oak Hill Advisors and Brigade Capital Management includes $69.2M common stock and $195.8M convertible preferred.
- Amended Framework Agreement between Twilio and Syniverse grants Twilio consent and other rights regarding merger terms.

## SEC filing metadata
- accession: 0001193125-21-249124
- form_type: 8-K
- ticker: TWLO
- cik: 0001447669
- company_name: TWILIO INC
- filed_at: 2021-08-17T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1447669/000119312521249124/0001193125-21-249124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1447669/000119312521249124/d208582d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-249124
- JSON: https://secwatch.observer/filing/0001193125-21-249124.json
- Plain text: https://secwatch.observer/filing/0001193125-21-249124.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.