---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-006202"
form_type: "8-K"
ticker: "MCAG"
cik: "0001859035"
company_name: "Mountain Crest Acquisition Corp. V"
filed_at: "2023-09-19T23:59:59+00:00"
generated_at: "2026-06-10T13:55:00.796762+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Mountain Crest V converts $2.1M in liabilities into 525,000 shares via vendor and note conversion agreements

## Summary
- Aggregate $1.8M vendor liabilities converted into 450,000 shares at $4.00/share, extinguishing the debts.
- $300K sponsor promissory note converted into 75,000 shares at $4.00 implied price per share.
- Shares issued in reliance on Section 4(a)(2) and Regulation D as no general solicitation was used.
- Holders receive one demand registration and unlimited piggyback rights for five years post-business combination.
- Total 525,000 shares issued extinguishes $2.1M of obligations, reducing balance-sheet liabilities.

## SEC filing metadata
- accession: 0001829126-23-006202
- form_type: 8-K
- ticker: MCAG
- cik: 0001859035
- company_name: Mountain Crest Acquisition Corp. V
- filed_at: 2023-09-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1859035/000182912623006202/0001829126-23-006202-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1859035/000182912623006202/mountaincrest5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-006202
- JSON: https://secwatch.observer/filing/0001829126-23-006202.json
- Plain text: https://secwatch.observer/filing/0001829126-23-006202.txt

## Key facts
- Material Agreements
  Mountain Crest Acquisition Corp. V entered into Vendor Liability Conversion Agreements with four vendors valued at $1,800,000 of service fees converted into 450,000 shares of Common Stock (effective 2023-09-13).
  - Action: entry
  - Counterparty: four vendors
  - Value: $1,800,000 of service fees converted into 450,000 shares of Common Stock
  - Effective: 2023-09-13
  source text: On September 13, 2023, Mountain Crest Acquisition Corp. V (the “Company”) entered into four separate vendor liability conversion agreements (the “Vendor Liability Conversion Agreements”) with four of the Company’s vendors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1859035/000182912623006202/0001829126-23-006202-index.htm
- Material Agreements
  Mountain Crest Acquisition Corp. V entered into Note Conversion Agreement with Mountain Crest Global Holdings LLC (Sponsor) valued at $300,000 Note converted into 75,000 shares of Common Stock (effective 2023-09-13).
  - Action: entry
  - Counterparty: Mountain Crest Global Holdings LLC (Sponsor)
  - Value: $300,000 Note converted into 75,000 shares of Common Stock
  - Effective: 2023-09-13
  source text: On September 13, 2023, as approved by the Company’s audit committee, the Company entered into a note conversion agreement (the “Note Conversion Agreement”) with the Sponsor, to convert the Note into 75,000 shares of the Company’s Common Stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1859035/000182912623006202/0001829126-23-006202-index.htm

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