The Reporting Persons named in Item 2 below are hereby jointly filing this statement on
beneficial ownership on Schedule 13D (this Statement) because due to certain relationships among the Reporting Persons, such Reporting Persons may be deemed to beneficially own the same securities named in Item 4 below by one of
the Reporting Persons. In accordance with Rule 13d-1(k)(1)(iii) promulgated pursuant to the Securities Exchange Act of 1934, as amended (the Exchange Act), the Reporting Persons named in
Item 2 below have executed a written agreement relating to the joint filing of this Schedule 13D (the Joint Filing Agreement), a copy of which is attached as Exhibit 99.1 to this Statement.
Item 1. Security and Issuer.
This
Statement relates to the common stock, par value $0.0001 per share (the Common Stock), of Better Therapeutics, Inc., a Delaware corporation (the Issuer). The address of the Issuers principal executive
offices is 548 Market Street, #49404, San Francisco, CA 94104.
Item 2. Identity and Background.
(a) This Statement is being filed jointly by the following persons (each, a Reporting Person, and, collectively, the
Reporting Persons): (i) Kevin Appelbaum, or his successor(s), as Trustee of the Kevin Appelbaum Revocable Trust under Revocable Trust Declaration dated May 16, 2020, as amended, a California trust (the Appelbaum
Trust), and (ii) Kevin J. Appelbaum, the Chief Executive Officer of the Issuer (Mr. Appelbaum).
(b) Mr. Appelbaums and the Appelbaum Trusts business address is c/o Better Therapeutics, Inc., 548 Market Street, #49404, San
Francisco, CA 94104.
(c) Mr. Appelbaum is the Chief Executive Officer of the Issuer and serves as the sole trustee of the Appelbaum
Trust. The Appelbaum Trust was created for estate planning purposes. The principal business of the Appelbaum Trust is holding, managing, investing and distributing the trust property and the proceeds therefrom.
(d) During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) During the past five years, the Reporting Persons were not a party to any civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws
or finding any violation with respect to such laws.
(f) The Appelbaum Trust is administered under the laws of California.
Mr. Appelbaum is a citizen of the United States.
Item 3. Source of Funds.
The responses to Items 4 and 6 of this Statement are incorporated herein by reference.
Pursuant to the Agreement and Plan of Merger, dated April 6, 2021, as amended (the Merger Agreement), by and among
Mountain Crest Acquisition Corp. II (the former name of the Issuer, MCAD), MCAD Merger Sub Inc. (Merger Sub) and Better Therapeutics, Inc. (BTX), on October 28, 2021, Merger Sub merged
with and into BTX, with BTX surviving the merger as a wholly-owned subsidiary of the Issuer (such merger and the other transactions contemplated by the Merger Agreement, the Business Combination). The Issuer changed its name to
Better Therapeutics, Inc. upon the Business Combination and BTX changed its name to Better Therapeutics OpCo, Inc. preceding the Business Combination. The foregoing description of the Business Combination does not purport to be complete and is
qualified in its entirety by the full text of the Merger Agreement, which is attached as Exhibit 99.2 to this Statement and incorporated herein by reference.
As a result of the closing of the Business Combination on October 28, 2021 (the Closing), the Appelbaum Trust acquired
2,406,719 shares of Issuer Common Stock in exchange for 2,540,000 shares of BTX common stock.