secwatch.observer — SEC 8-K summary
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Issuer:     Mountain Crest Acquisition Corp. IV (—)
CIK:        0001853774
Form:       8-K
Filed at:   2023-03-29T23:59:59+00:00
Accession:  0001829126-23-002383
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mountain Crest SPAC extends deadline to July 2, 2023, borrows $350K from target CH Auto
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- Extended business combination deadline from April 2 to July 2, 2023 by depositing $343,936 into trust.
- Borrowed $350,000 from CH Auto Technology (target company) via unsecured promissory note.
- Note is non-interest bearing, due at close of business combination or liquidation.
- Note may be converted into common stock at $10.00/share at CH Auto's option.
- Proceeds used to fund the extension deposit into trust account.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1853774/000182912623002383/0001829126-23-002383-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1853774/000182912623002383/mountaincrest4_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-002383

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer