In general, to negate a statement we swap $\forall$s and $\exists$s while negating the expression on the RHS of the ‘such that’.
So your statement
$$\forall \delta>0,\ \forall M>0 \exists\ N\in\mathbb{N}\ : \mathbb{P}\left( \text{At least M events in } [0,N]\right)>1-\delta,$$
has negation
$$\forall\ N\in\mathbb{N} \exists \delta>0\ \text{ and }\exists\ M>0: \mathbb{P}\left( \text{At least M events in } [0,N]\right)\leq 1-\delta.$$
This says that there is an exception; for any $N\in\mathbb{N}$ we are given, we can find a $\delta>0$ and $M>0$ such that the statement does not hold.
Imagine it like playing a game: in the first instance, you are given a $\delta>0$ and an $M>0$ and your challenge is to find an $N\in\mathbb{N}$ such that the probability is true. Well then negating the statement is taking the reverse role in the game: someone is giving you an $N$ and you have to give them a $\delta,M$ such that they can’t win.
Hope this helps, stay safe