Mountain Crest Acquisition Corp. V closes IPO of 6.9M units, raising $69M

Mountain Crest Acquisition Corp. V

Sold 6,000,000 units at $10.00 each in IPO, plus 900,000 over-allotment units, generating aggregate gross proceeds of $69,000,000.
Proceeds of $69,000,000 placed into trust account for benefit of public shareholders pending initial business combination.
Sponsor Mountain Crest Global Holdings LLC purchased 223,000 private units for $2,230,000 in concurrent private placements.
Each unit consists of one share of common stock and one right to receive one-tenth of a share upon consummation of a business combination.
Company is a blank check company seeking a merger with one or more businesses; no target identified.

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