Mountain Crest Acquisition Corp. III
MCAER
NASDAQ Capital Market0.46
USD
+0.06
- -
CIK
0001853775
Return %
Stock
S&P500
1Y
84.00
18.02
3Y
2.22
64.11
5Y
2.22
72.15
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- CIK
- 0001853775
- Similar Companies
- Business
- Mountain Crest Acquisition Corp. III (MCAE) operates as a blank check company, or special purpose acquisition company (SPAC), with no significant ongoing operations; it pursues mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations, primarily targeting operating businesses in North America. Incorporated in 2021 and headquartered at 311 West 43rd Street, 12th Floor, New York, New York, the company completed its initial public offering in May 2021, raising $50 million through 5 million units at $10 each, with common stock and rights trading under MCAE and MCAER, respectively. In its key strategic transaction, Mountain Crest Acquisition Corp. III closed a business combination with ETAO International Group, a Cayman Islands-based digital healthcare provider offering telemedicine, hospital care, primary care, pharmacy, and health insurance services to patients in China via biomedical and AI technologies, on February 17, 2023, resulting in ETAO shares trading on Nasdaq under the ticker ETAO. The merger, initially valued at $2.5 billion enterprise value with a $250 million PIPE from China SME Investment Group, provided up to $304 million in proceeds assuming no redemptions and saw ETAO shareholders roll over 100% of their equity into the combined entity led by ETAO's management, including CEO Wilson Liu; subsequent amendments reduced consideration to $1 billion with 100 million ordinary shares issued. The MCAER rights ticker remains active but thinly traded with low volume and potential delisting risk, while post-merger ETAO faced Nasdaq deficiencies for reporting delinquencies, hearings in 2024, and operational changes like terminating VIE arrangements with seven subsidiaries in 2023 to cut expenses.