secwatch.observer — SEC 8-K summary
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Issuer:     Mountain Crest Acquisition Corp. V (MCAG)
CIK:        0001859035
Form:       8-K
Filed at:   2025-04-28T23:59:59+00:00
Accession:  0001829126-25-002989
Event type: debt
Sentiment:  positive
Materiality: 0.30
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mountain Crest Acquisition Corp. V obtains $500K promissory note from sponsor for working capital
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- Issued $500,000 unsecured promissory note to sponsor Mountain Crest Global Holdings LLC on April 25, 2025.
- Note bears no interest; principal due at earlier of business combination or liquidation.
- Proceeds used for working capital; note forgivable if no business combination except trust funds.
- Drawdowns available in writing; maximum aggregate draws cannot exceed $500,000.
- Sponsor waives any claim against SPAC trust account for repayment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1859035/000182912625002989/0001829126-25-002989-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1859035/000182912625002989/mountaincrest5_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-002989

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