Recent 8-K filings for MCAG
Highest-materiality recent filing
MCAG receives Nasdaq delisting notice for failing to complete business combination within 36 months
- Nasdaq notified MCAG on Nov 14, 2024 that it failed to meet IM-5101-2 by not completing a business combination within 36 months of IPO effective date (Nov 12, 2021).
- Company will not appeal; trading on Nasdaq will be suspended at the open on Nov 21, 2024.
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MCAG receives Nasdaq delisting notice for failing to complete business combination within 36 months
Nasdaq notified MCAG on Nov 14, 2024 that it failed to meet IM-5101-2 by not completing a business combination within 36 months of IPO effective date (Nov 12, 2021).
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Stockholders approved extension of Business Combination Period to November 16, 2025 via Amendment No. 4 to charter (75.25% of shares voted FOR).
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Mountain Crest Receives Nasdaq Deficiency for Late Qs; Files Q1 10-Q, Submits Compliance Plan
Received Nasdaq notice on Sept 13 for failure to timely file Q1 and Q2 10-Qs.
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Nasdaq confirms Mountain Crest V compliance after filing delinquent 10-K; matter closed
Received Nasdaq notice July 18, 2024 for failure to file Form 10-K (2023) and Form 10-Q (Q1 2024).
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MCAG (SPAC) enters $375M merger with CUBEBIO, a Korean company
Implied equity value of $375M based on $10.00 per PubCo ordinary share exchange ratio.
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Nasdaq notifies Mountain Crest of deficiency for late 10-K and 10-Q filing
Received Nasdaq deficiency notice on July 18, 2024, for failure to timely file Form 10-K (2023) and Form 10-Q (Q1 2024).
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Mountain Crest V regains Nasdaq MVLS compliance; delisting risk resolved
Previously failed $35M market value of listed securities (MVLS) rule.
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Mountain Crest V announces non-binding term sheet to combine with CUBEBIO at $620M pre-money value
Pre-transaction equity value of CUBEBIO set at $620 million, subject to adjustment.
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Nasdaq notified MCAG on Dec 13, 2023 that its market value of listed securities fell below $35M for 30 consecutive business days.
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Mountain Crest V regains Nasdaq compliance on $35M MVLS for Capital Market
Received Nasdaq notice on Nov 9, 2023 that it met the $35M MVLS standard for continued listing on Nasdaq Capital Market.
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Mountain Crest Acquisition transfers to Nasdaq Capital after failing Global Market listing rules
Received Nasdaq approval Oct 23; transfer effective Oct 27, 2023, with same tickers MCAG, MCAGU, MCAGR.
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Extension deadline for initial business combination moved to November 16, 2024, with $0.10/Public Share deposit per three-month extension starting Nov 17, 2023.
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MCAG receives Nasdaq delisting notice for failing MVPHS minimum of $15M
On June 27, 2023, Nasdaq notified MCAG that its Market Value of Publicly Held Shares (MVPHS) fell below $15M for 30 consecutive business days.
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AUM Biosciences delivered termination notice on June 8, 2023, ending the Business Combination Agreement.
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Mountain Crest's merger with AUM Biosciences terminated by AUM on June 8, 2023
AUM Biosciences sent termination notice on June 8, 2023, ending the Business Combination Agreement with Mountain Crest.
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Nasdaq notice on May 18, 2023: Company fails minimum 1,100,000 publicly held shares requirement.
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Mountain Crest V extends SPAC deadline to Feb 2024; 1.4M shares redeemed (~35%)
Extension amendment approved by shareholders; deadline pushed from May 16, 2023 to Feb 16, 2024.
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Received Nasdaq notice on April 3, 2023 for failing $50M MVLS requirement for 30 consecutive business days.
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MCAG stockholders approve extension to May 2023; ~4.97M shares redeemed for cash
Stockholders approved amendment to extend business combination deadline from Feb 16, 2023 to May 16, 2023.
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Mountain Crest V to combine with AUM Biosciences at ~$400M valuation; PIPE of $30M sought
Purchase price of ~$400M; AUM shareholders roll over 100% equity for ~84% of pro forma ownership.
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Mountain Crest V announces $400M business combination with AUM Biosciences
SPAC MCAG enters Business Combination Agreement with Singapore-based AUM Biosciences; Holdco to list on Nasdaq.
Materiality & sentiment trend
Max materiality 0.90 · Median 0.55 · Most common event other_material