MCAG (SPAC) enters $375M merger with CUBEBIO, a Korean company

Mountain Crest Acquisition Corp. V

Implied equity value of $375M based on $10.00 per PubCo ordinary share exchange ratio.
SPAC sponsor and directors agree to vote in favor and waive redemption rights.
CUBEBIO shareholders also execute support agreement to approve the deal.
Closing must occur by May 15, 2025; SPAC may extend timeline by up to 6 months.
Breakup fee of $1 million payable if deal fails under certain termination scenarios.

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