---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-24-005553"
form_type: "8-K"
ticker: "MCAG"
cik: "0001859035"
company_name: "Mountain Crest Acquisition Corp. V"
filed_at: "2024-08-15T23:59:59+00:00"
generated_at: "2026-05-31T09:06:04.935217+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001829126-24-005553
- form_type: 8-K
- ticker: MCAG
- cik: 0001859035
- company_name: Mountain Crest Acquisition Corp. V
- filed_at: 2024-08-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1859035/000182912624005553/0001829126-24-005553-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1859035/000182912624005553/mountaincrest5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-24-005553
- JSON: https://secwatch.observer/filing/0001829126-24-005553.json
- Plain text: https://secwatch.observer/filing/0001829126-24-005553.txt

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