Mountain Crest Acquisition Corp. V Announces Closing of $60 Million Initial Public Offering
November 16 2021 - 5:30PM
Mountain Crest Acquisition Corp. V (NASDAQ: MCAGU, the “Company”)
announced today that it closed its initial public offering of
6,000,000 units at $10.00 per unit. Each unit consists of one share
of common stock and one right to receive one-tenth of one share of
common stock upon the consummation of an initial business
combination.
The units are listed on The NASDAQ Capital Market (“NASDAQ”) and
began trading under the ticker symbol “MCAGU” on November 12, 2021.
Once the securities comprising the units begin separate trading,
the common stock and rights are expected to be listed on NASDAQ
under the symbols “MCAG,” and “MCAGR,” respectively.
The underwriters have been granted a 45-day option to purchase
up to an additional 900,000 units offered by the Company to cover
over-allotments, if any.
Chardan acted as sole book running manager in the offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
November 12, 2021. The offering is being made only by means of a
prospectus, copies of which may be obtained by contacting Chardan,
17 State Street, Suite 2130, New York, NY 10004. Copies of the
registration statement can be accessed through the SEC's website
at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Mountain Crest Acquisition Corp.
VMountain Crest Acquisition Corp. V is a blank check
company formed for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses. The
Company's efforts to identify a prospective target business will
not be limited to a particular industry or geographic region,
although it intends to focus on operating businesses in North
America and Asia Pacific (excluding China).
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements are subject to risks and uncertainties, which could
cause actual results to differ from the forward-looking statements.
The Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Contact:Mountain Crest Acquisition Corp. VDr. Suying
LiuChairman, CEO and CFO311 W 43rd St, 12th Fl, New York,
NY 10036(646) 493-6558
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