Form 8-K - Current report
July 21 2023 - 9:00AM
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
July
18, 2023
Date
of Report (Date of earliest event reported)
Mountain Crest Acquisition Corp. V
(Exact
Name of Registrant as Specified in its Charter)
Delaware |
|
001-41062 |
|
86-1768041 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
311 West 43rd Street, 12th Floor
New York, NY |
|
10036 |
(Address of Principal Executive
Offices) |
|
(Zip Code) |
Registrant’s
telephone number, including area code: (646) 493 6558
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written communications
pursuant to Rule 425 under the Securities Act |
|
|
☐ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act |
|
|
☐ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act |
|
|
☐ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common Stock |
|
MCAG |
|
The Nasdaq Stock Market
LLC |
Rights |
|
MCAGR |
|
The Nasdaq Stock Market
LLC |
Units |
|
MCAGU |
|
The Nasdaq Stock Market
LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing rule or Standard; Transfer of Listing.
As
previously disclosed, on May 18, 2023, Mountain Crest Acquisition Corp. V, a Delaware corporation (the “Company”), received
a notice from the Nasdaq Stock Market LLC (“Nasdaq”), stating that the Company no longer satisfies the requirement to maintain
a minimum of 1,100,000 publicly held shares (the “PHS Requirement”) for continued listing on The Nasdaq Global Market, according
to the number of publicly held shares reported on its Form 8-K for May 12, 2023. The Company was provided 45 calendar days, or until
July 3, 2023, to submit a plan to Nasdaq to regain compliance with the PHS Requirement. The Company submitted such plan on June 30, 2023.
On July 18, 2023, the Company received a determination letter from Nasdaq advising it that the Nasdaq Staff has accepted the Company’s
plan to regain compliance with the PHS Requirement provided that, on or before November 14, 2023, the Company must file with the SEC
and Nasdaq a public document containing its current total shares outstanding and a beneficial ownership table in accordance with the
SEC Proxy Rules. If the Company fails to file such public document by November 14, 2023, the Company may receive a notice that its securities
will be delisted. In that case, the Company will have the opportunity to appeal that decision to a Listing Qualifications Panel.
No
Offer or Solicitation
This
Current Report on Form 8-K is for informational purposes only and is not intended to and shall not constitute a proxy statement or the
solicitation of a proxy, consent or authorization with respect to any securities or in respect of an initial business combination or
PIPE financing and is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation
of an offer to buy or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated: July 21, 2023 |
|
|
|
MOUNTAIN CREST ACQUISITION CORP. V |
|
|
|
By: |
/s/
Suying Liu |
|
Name: |
Suying Liu |
|
Title: |
Chief Executive Officer |
|
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