Mountain Crest V announces $400M business combination with AUM Biosciences

Mountain Crest Acquisition Corp. V

SPAC MCAG enters Business Combination Agreement with Singapore-based AUM Biosciences; Holdco to list on Nasdaq.
Company shareholders to receive ~40M Holdco shares at $10/share; SPAC holders get 1 Holdco share per share; 10 rights get 1 share.
Extension of combination deadline to Feb 16, 2023, with possible further extension to May 16, 2023.
Lock-up for 93% of company shareholders: 6 months; 50% early release if $12.50 for 20 of 30 trading days.
Breakup fee of $1.75M payable by SPAC if terminated; Sponsor agrees to vote in favor and not redeem.

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