---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-007051"
form_type: "8-K"
ticker: "MCAG"
cik: "0001859035"
company_name: "Mountain Crest Acquisition Corp. V"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T03:16:24.593269+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Mountain Crest Acquisition Corp. V issues $400K promissory note to sponsor for working capital

## Summary
- Issued $400,000 unsecured note to sponsor Mountain Crest Global Holdings LLC; no interest, due upon business combination or liquidation.
- Proceeds used for working capital; note repayable only from funds outside trust if no deal closes.
- Sponsor waives any claim against trust account proceeds from IPO.
- Note is drawn down in increments via written notice; maximum aggregate $400,000.

## SEC filing metadata
- accession: 0001829126-23-007051
- form_type: 8-K
- ticker: MCAG
- cik: 0001859035
- company_name: Mountain Crest Acquisition Corp. V
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1859035/000182912623007051/0001829126-23-007051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1859035/000182912623007051/mountaincrest5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-007051
- JSON: https://secwatch.observer/filing/0001829126-23-007051.json
- Plain text: https://secwatch.observer/filing/0001829126-23-007051.txt

## Key facts
- Debt Financings
  Mountain Crest Acquisition Corp. V incurred loan of up to $400,000 with Mountain Crest Global Holdings LLC at does not bear interest maturing on the earlier of: (i) the date on which Company consummates an initial business combination with a target business, or (ii) the date the Company liquidates if.
  - Instrument: loan
  - Principal: up to $400,000
  - Counterparty: Mountain Crest Global Holdings LLC
  - Rate: does not bear interest
  - Maturity: on the earlier of: (i) the date on which Company consummates an initial business combination with a target business, or (ii) the date the Company liquidates if
  - Event: incurrence
  source text: On October 30, 2023, Mountain Crest Acquisition Corp. V (the “Company”) issued an unsecured promissory note in the aggregate principal amount up to $400,000 (the “Note”) to Mountain Crest Global Holdings LLC, the Company’s sponsor (the “Sponsor”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1859035/000182912623007051/0001829126-23-007051-index.htm

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