secwatch.observer — SEC 8-K summary
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Issuer:     Mountain Crest Acquisition Corp. V (MCAG)
CIK:        0001859035
Form:       8-K
Filed at:   2022-10-20T23:59:59+00:00
Accession:  0001829126-22-018138
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1859035/000182912622018138/0001829126-22-018138-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1859035/000182912622018138/mountaincrest5_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-22-018138

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