Mountain Crest Acquisition Corp. V Announces Closing of Fully-Exercised Over-Allotment Option in Connection with Its Initial Public Offering
November 18 2021 - 5:30PM
Mountain Crest Acquisition Corp. V (NASDAQ: MCAGU, the “Company”)
announced today that the underwriters in its initial public
offering, pursuant to the terms of the underwriting agreement,
fully exercised their over-allotment option and, on November 18,
2021, purchased 900,000 units, generating additional gross proceeds
of $9,000,000. 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 total aggregate issuance by the Company of 6,900,000 units
at a price of $10.00 per unit resulted in total gross proceeds of
$69,000,000.
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.
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 StatementsThis 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. V |
|
Dr. Suying Liu |
|
Chairman, CEO and CFO |
|
311 W 43rd St, 12th Fl, New
York, NY 10036 |
|
(646) 493-6558 |
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