8-K
filed December 21, 2022, 6:59 PM ET
ticker MCAG
CIK 0001859035
other material
confidence high
sentiment neutral
materiality 0.80
MCAG stockholders approve extension to May 2023; ~4.97M shares redeemed for cash
Mountain Crest Acquisition Corp. V
- Stockholders approved amendment to extend business combination deadline from Feb 16, 2023 to May 16, 2023.
- SPAC deposited $300,000 into trust account in connection with the extension.
- Approximately 4,965,892 shares tendered for redemption, representing ~55% of outstanding shares.
- SPAC previously entered into a business combination agreement with AUM Biosciences; combined entity to trade as AUMB.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Mountain Crest Acquisition Corp. V: Amended certificate of incorporation to extend business combination period from February 16, 2023 to May 16, 2023 (effective 2022-12-20).
- Change
- charter amendment
- Effective
- 2022-12-20
Exact text from the filing
As approved by its stockholders at the Special Meeting, SPAC filed an amendment to its Amended and Restated Certificate of Incorporation with the Delaware Secretary of State on December 20, 2022 (the “Extension Amendment”), giving SPAC the right to extend the Business Combination Period from February 16, 2023 to May 16, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Mountain Crest Acquisition Corp. V amended Investment Management Trust Agreement Amendment with Continental Stock Transfer & Trust Company valued at deposit of $300,000 into trust account to extend business combination period from February 16, 2023 (effective 2022-12-20).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Value
- deposit of $300,000 into trust account to extend business combination period from February 16, 2023
- Effective
- 2022-12-20
Exact text from the filing
As approved by its stockholders at the special meeting of Stockholders held on December 20, 2022 (the “Special Meeting”), Mountain Crest Acquisition Corp V (“SPAC”) entered into an amendment to the Investment Management Trust Agreement, dated as of November 12, 2021, with Continental Stock Transfer & Trust Company, on December 20, 2022 (the “Trust Amendment”). Pursuant to the Trust Amendment, SPAC has the right to extend the time for SPAC to complete its business combination (the “Business Combination Period”) under the Trust Agreement for a period of 3 months from February 16, 2023 to May 16, 2023 and to the extent SPAC’s Amended and Restated Certificate of Incorporation is amended to extend the Business Combination Period, by depositing $300,000 into SPAC’s trust account (“Trust Account”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
Mountain Crest Acquisition Corp. V shareholders approved Extension Amendment Stockholders approved the proposal to amend SPAC's Amended and Restated Certificate of Incorporation, giving SPAC the right to extend the Business Combination Period from February 16, 2023 to May 16, 2023. at the 2022-12-20 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2022-12-20
Exact text from the filing
1. Extension Amendment Stockholders approved the proposal to amend SPAC’s Amended and Restated Certificate of Incorporation, giving SPAC the right to extend the Business Combination Period from February 16, 2023 to May 16, 2023. Adoption of the Extension Amendment required approval by the affirmative vote of at least a majority of SPAC’s outstanding shares of common stock. The voting results were as follows: FOR AGAINST ABSTAIN 7,941,171 10,031 61,486
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
Mountain Crest Acquisition Corp. V shareholders approved Trust Amendment Stockholders approved the proposal to amend SPAC's Investment Management Trust Agreement, dated as of November 12, 2021, by and between the Company and Continental Stock Transfer & Trust Company, giving SPAC the right to extend the Business Combination Period from February 16, 2023 t at the 2022-12-20 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2022-12-20
Exact text from the filing
2. Trust Amendment Stockholders approved the proposal to amend SPAC’s Investment Management Trust Agreement, dated as of November 12, 2021, by and between the Company and Continental Stock Transfer & Trust Company, giving SPAC the right to extend the Business Combination Period from February 16, 2023 to May 16, 2023 and to the extent SPAC’s Amended and Restated Certificate of Incorporation is amended to extend the Business Combination Period by depositing into the Trust Account $300,000. Adoption of the Trust Amendment required approval by the affirmative vote of at least a majority of SPAC’s outstanding shares of common stock sold in the IPO. The voting results were as follows: FOR AGAINST ABSTAIN 5,815,271 10,031 61,486
View on SEC.gov
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