Mountain Crest V closes $60M IPO plus $9M over-allotment; $69M in trust

Mountain Crest Acquisition Corp. V

IPO of 6,000,000 units at $10.00/unit raised $60M gross; over-allotment of 900,000 units raised $9M.
Private placement of 205,000 units ($2.05M) and additional 18,000 units ($0.18M) sold to sponsor.
Net proceeds of $69M deposited into trust account for benefit of public shareholders.
Balance sheet at Nov 16 shows $60M in trust, $610k cash outside trust, $1.8M deferred underwriting fee.
Sponsor agreed to waive redemption rights and indemnify trust against third-party claims.

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