---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-24-002971"
form_type: "8-K"
ticker: "MCAG"
cik: "0001859035"
company_name: "Mountain Crest Acquisition Corp. V"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:15:45.142697+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Mountain Crest Acquisition Corp. V issues $300K promissory note to sponsor for working capital

## Summary
- Unsecured note of up to $300,000 issued April 30, 2024 to sponsor Mountain Crest Global Holdings LLC.
- Note bears no interest; principal due at earlier of initial business combination or liquidation.
- Proceeds used for working capital; note forgiven if no business combination except funds outside trust.
- Sponsor waives any claim against the trust account established from the IPO proceeds.

## SEC filing metadata
- accession: 0001829126-24-002971
- form_type: 8-K
- ticker: MCAG
- cik: 0001859035
- company_name: Mountain Crest Acquisition Corp. V
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1859035/000182912624002971/0001829126-24-002971-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1859035/000182912624002971/mountaincre5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-24-002971
- JSON: https://secwatch.observer/filing/0001829126-24-002971.json
- Plain text: https://secwatch.observer/filing/0001829126-24-002971.txt

## Key facts
- Debt Financings
  Mountain Crest Acquisition Corp. V incurred loan of up to $300,000 with Mountain Crest Global Holdings LLC at does not bear interest 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
  - Rate: does not bear interest
  - 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
  source text: On April 30, 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").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1859035/000182912624002971/0001829126-24-002971-index.htm

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