---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-037836"
form_type: "8-K"
ticker: "TWLO"
cik: "0001447669"
company_name: "TWILIO INC"
filed_at: "2022-02-14T23:59:59+00:00"
generated_at: "2026-06-27T08:21:48.280415+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Twilio's SPAC merger plan for Syniverse fails; alternative direct investment pursued

## Summary
- M-3 Brigade Acquisition II Corp. and Syniverse terminated merger due to excessive shareholder redemptions.
- Twilio will not purchase $500M-$750M in MBAC common stock as previously agreed.
- Framework Agreement remains; Twilio now pursuing direct $500M-$750M minority investment in Syniverse.
- Parties also plan to enter into a wholesale agreement under the Framework Agreement.
- August 2021 Framework Agreement amendment terminated with the merger termination.

## SEC filing metadata
- accession: 0001193125-22-037836
- form_type: 8-K
- ticker: TWLO
- cik: 0001447669
- company_name: TWILIO INC
- filed_at: 2022-02-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1447669/000119312522037836/0001193125-22-037836-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1447669/000119312522037836/d315363d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-037836
- JSON: https://secwatch.observer/filing/0001193125-22-037836.json
- Plain text: https://secwatch.observer/filing/0001193125-22-037836.txt

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