---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-001574"
form_type: "8-K"
ticker: "MCAG"
cik: "0001859035"
company_name: "Mountain Crest Acquisition Corp. V"
filed_at: "2023-02-16T23:59:59+00:00"
generated_at: "2026-06-19T09:46:50.115439+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Mountain Crest Acquisition V extends business combination deadline to May 16, 2023 via $300K sponsor loan

## Summary
- SPAC extended deadline to complete business combination from Feb 16, 2023 to May 16, 2023 by depositing $300,000 into trust.
- Sponsor Mountain Crest Global Holdings loaned $300,000 via a non-interest bearing unsecured promissory note.
- Note due upon consummation of business combination; convertible into private units at $10/unit at sponsor's election.
- Note will be forgiven if no business combination by May 16, 2023, except for funds held outside trust.

## SEC filing metadata
- accession: 0001829126-23-001574
- form_type: 8-K
- ticker: MCAG
- cik: 0001859035
- company_name: Mountain Crest Acquisition Corp. V
- filed_at: 2023-02-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1859035/000182912623001574/0001829126-23-001574-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1859035/000182912623001574/mountaincrest5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-001574
- JSON: https://secwatch.observer/filing/0001829126-23-001574.json
- Plain text: https://secwatch.observer/filing/0001829126-23-001574.txt

## Key facts
- Debt Financings
  Mountain Crest Acquisition Corp. V incurred loan of $300,000 with Mountain Crest Global Holdings LLC at non-interest bearing maturing upon SPAC’s consummation of an initial business combination.
  - Instrument: loan
  - Principal: $300,000
  - Counterparty: Mountain Crest Global Holdings LLC
  - Rate: non-interest bearing
  - Maturity: upon SPAC’s consummation of an initial business combination
  - Event: incurrence
  source text: On February 15, 2023, SPAC issued a non-interest bearing, unsecured promissory note in the aggregate principal amount of $300,000 (the “Note”) to the Sponsor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1859035/000182912623001574/0001829126-23-001574-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.