secwatch.observer — SEC 8-K summary
======================================

Issuer:     Mountain Crest Acquisition Corp. V (MCAG)
CIK:        0001859035
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001829126-23-007051
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1859035/000182912623007051/0001829126-23-007051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1859035/000182912623007051/mountaincrest5_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-007051

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