Mountain Crest Acquisition Corp. II
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- Mountain Crest Acquisition Corp. II (MCAD) operates as a blank check company whose principal business activity involves seeking to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, without limitation to a specific industry or geography. Incorporated in 2020 and headquartered in New York, New York, the company raised proceeds through its initial public offering in early 2021, placing funds into a trust account for potential deployment in a qualifying transaction or redemption by stockholders. Its core offerings encompass standard SPAC services including sponsor-promoted equity structures, rights convertible to one-tenth of a share upon business combination consummation, redeemable public shares at trust value, and warrants exercisable post-merger; it targets North American opportunities while serving institutional and retail investors. In October 2021, MCAD completed a definitive business combination with Better Therapeutics Inc., a prescription digital therapeutics firm focused on cognitive behavioral therapy for cardiometabolic diseases including type 2 diabetes via its BT-001 platform, generating approximately $70 million in gross proceeds and resulting in the combined entity trading as BTTX on Nasdaq, though the SPAC structure facilitated stockholder redemption of about 84% of shares prior to closing. Subsequent developments include ongoing stockholder litigation alleging fiduciary duty breaches related to merger disclosures and post-merger share price declines from $10.97 to $3.68 within three months, with a class action settlement stipulation filed in 2025 under C.A. No. 2023-0469-BWD in Delaware Chancery Court; as of late 2025, MCAD trades around $10.43 amid potential delisting risks, reflecting its status as a post-de-SPAC or residual shell entity with no new merger activity reported.
Company News
Mountain Crest Acquisition Corp. II/Better Therapeutics, Inc. Class Action – Important Settlement Information
Mountain Crest Acquisition Corp. II and Better Therapeutics, Inc. Announce Registration Statement Effectiveness and Scheduled Special Meeting to Approve Business Combination on October 27, 2021
Better Therapeutics to Participate in Lake Street's 5th Annual Best Ideas Growth (BIG5) Conference on September 14-15, 2021
Better Therapeutics Expands Real-World Evidence Study Initiative With Addition of Catalyst Health Network
Better Therapeutics and Colorado Prevention Center Clinical Research Launch Real-World Evidence Study of Prescription Digital Therapeutic for Type 2 Diabetes
Better Therapeutics Launches Real World Evidence Study of Prescription Digital Therapeutic for Type 2 Diabetes