secwatch.observer — SEC 8-K summary
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Issuer:     Mountain Crest Acquisition Corp. V (MCAG)
CIK:        0001859035
Form:       8-K
Filed at:   2021-11-22T23:59:59+00:00
Accession:  0001829126-21-014656
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1859035/000182912621014656/0001829126-21-014656-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1859035/000182912621014656/mountaincrest5_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-21-014656

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