secwatch.observer — SEC 8-K summary
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Issuer:     Mountain Crest Acquisition Corp. V (MCAG)
CIK:        0001859035
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001829126-24-002971
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1859035/000182912624002971/0001829126-24-002971-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1859035/000182912624002971/mountaincre5_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-002971

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