---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-24-002749"
form_type: "8-K"
ticker: "MCAG"
cik: "0001859035"
company_name: "Mountain Crest Acquisition Corp. V"
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T09:51:56.989614+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Mountain Crest V converts $600K in sponsor notes into 150K shares of common stock

## Summary
- Principal amount of $600,000 in promissory notes converted into 150,000 shares of common stock at $4.00/share effective April 19, 2024.
- Sponsor receives demand and piggyback registration rights for 5 years after initial business combination.
- Conversion eliminates $600,000 debt and was approved by audit committee.
- Shares issued as unregistered securities under Section 4(a)(2) and Regulation D.

## SEC filing metadata
- accession: 0001829126-24-002749
- form_type: 8-K
- ticker: MCAG
- cik: 0001859035
- company_name: Mountain Crest Acquisition Corp. V
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1859035/000182912624002749/0001829126-24-002749-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1859035/000182912624002749/mountaincrest5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-24-002749
- JSON: https://secwatch.observer/filing/0001829126-24-002749.json
- Plain text: https://secwatch.observer/filing/0001829126-24-002749.txt

## Key facts
- Material Agreements
  Mountain Crest Acquisition Corp. V entered into Note Conversion Agreement with Mountain Crest Global Holdings LLC valued at $600,000 (effective 2024-04-19).
  - Action: entry
  - Counterparty: Mountain Crest Global Holdings LLC
  - Value: $600,000
  - Effective: 2024-04-19
  source text: On April 19, 2024, 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 Principal Amount due under the Notes into 150,000 shares of the Company’s common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1859035/000182912624002749/0001829126-24-002749-index.htm

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