MCAG obtains up to $500K unsecured promissory note from sponsor

Mountain Crest Acquisition Corp. V

Note for up to $500K issued to sponsor Mountain Crest Global Holdings LLC on Aug 14, 2024.
Interest-free; principal due at earlier of business combination or liquidation.
Proceeds used for working capital; note forgiven if no business combination (except funds outside trust).
Drawdowns permitted via written notice; no prepayment penalty.
Typical SPAC working capital facility, no change to business combination timeline.

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