Mountain Crest Acquisition Corp. V (MCAG): debt financing — Mountain Crest Acquisition Corp. V enters up to $300K promissory note with sponsor for working capital

Mountain Crest Acquisition Corp. V

Issued unsecured promissory note to sponsor Mountain Crest Global Holdings LLC, principal up to $300,000.
Note due upon earlier of business combination or liquidation; no interest; drawn in increments.
Proceeds used for working capital; repayment only from funds outside trust if no business combination.
Sponsor waives any claim against trust account for repayment.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Mountain Crest Acquisition Corp. V incurred loan of up to $300,000 with Mountain Crest Global Holdings LLC maturing 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 a b.

Instrument: loan
Principal: up to $300,000
Counterparty: Mountain Crest Global Holdings LLC
Maturity: 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 a b
Event: incurrence

Exact text from the filing

On April 3, 2024, Mountain Crest Acquisition Corp. V (the “Company”) issued an unsecured promissory note in the aggregate principal amount up to $300,000 (the “Note”) to Mountain Crest Global Holdings LLC, the Company’s sponsor (the “Sponsor”).

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299 debt financings filed in the last 30 days. Browse all debt financings →

Mountain Crest Acquisition Corp. V filing history →

Source: SEC EDGAR

accession 0001829126-24-002192

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