Mountain Crest Acquisition Corp. V
MCAG
Other OTC13.27
USD
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Mountain Crest Acquisition Corp. V
MCAG
(Other OTC)
Recent
price
13.27
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Mountain Crest Acquisition Corp. V (Nasdaq: MCAG) operates as a blank check company, or special purpose acquisition company (SPAC), with no significant current operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, primarily targeting opportunities in North America and the Asia Pacific region. Incorporated in 2021, it maintains its headquarters in New York, New York, and functions as a subsidiary of Mountain Crest Global Holdings LLC. Its offerings center on providing a public listing vehicle through its publicly traded common stock, rights, and units on Nasdaq; sponsor shares held by affiliates; and trust account proceeds from its initial public offering, which raised $69 million gross proceeds in November 2021 following the full exercise of underwriters' over-allotment option for 900,000 additional units. Targeting industries across sectors with a management team experienced in four prior SPAC combinations, the company serves as a de-SPAC platform for private entities seeking public market access. Recent developments include a definitive business combination agreement announced August 29, 2024, with CUBEBIO Co., Ltd., a Korea-based developer of early-stage cancer diagnostic technology using urine analysis, valuing CUBEBIO at a pre-transaction equity of $375 million with potential $245 million earn-out tied to 2026 revenue milestones, expected to close in the first quarter of 2025 pending approvals and conditions, through a SPAC merger and share swap into a new Cayman Islands holdco; an extension of its initial business combination deadline to November 16, 2026, approved by shareholders at the 2025 annual meeting with 28,981 shares redeemed; a prior non-binding term sheet with CUBEBIO at a $620 million valuation; and a 2022 terminated business combination agreement with AUM Biosciences.
Mountain Crest Acquisition Corp. V Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Reports on Form 10-Q and Makes Progress Towards Regaining Compliance
CUBEBIO Announces Business Combination Agreement With Mountain Crest V to Become Publicly Listed
Mountain Crest Acquisition Corp. V Announces Listing Transfer to the Nasdaq Capital Market