Mountain Crest Acquisition Corp. V Files 8-K on Financial Obligation
Ticker: MCAGU · Form: 8-K · Filed: Aug 15, 2024 · CIK: 1859035
| Field | Detail |
|---|---|
| Company | Mountain Crest Acquisition CORP. V (MCAGU) |
| Form Type | 8-K |
| Filed Date | Aug 15, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-obligation, 8-k
Related Tickers: MCAG
TL;DR
MCAG V just filed an 8-K about a new financial obligation - check the details.
AI Summary
Mountain Crest Acquisition Corp. V filed an 8-K on August 14, 2024, reporting the creation of a direct financial obligation. The filing details financial statements and exhibits related to this obligation, with the company incorporated in Delaware and headquartered in New York.
Why It Matters
This filing indicates a new financial commitment or debt for Mountain Crest Acquisition Corp. V, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — The creation of a direct financial obligation can introduce new risks related to debt servicing and financial stability.
Key Players & Entities
- Mountain Crest Acquisition Corp. V (company) — Registrant
- August 14, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- New York (location) — Principal Executive Office City
FAQ
What is the nature of the direct financial obligation reported by Mountain Crest Acquisition Corp. V?
The filing states the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant, but the specific details of the obligation are not provided in the summary text.
When was the earliest event reported in this 8-K filing?
The date of the earliest event reported is August 14, 2024.
In which state is Mountain Crest Acquisition Corp. V incorporated?
Mountain Crest Acquisition Corp. V is incorporated in Delaware.
What is the principal executive office address of Mountain Crest Acquisition Corp. V?
The principal executive office is located at 524 Broadway, 11th Floor, New York, NY 10012.
What type of filing is this 8-K report?
This is a Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 751 words · 3 min read · ~3 pages · Grade level 13.7 · Accepted 2024-08-15 09:30:06
Key Financial Figures
- $500,000 — in the aggregate principal amount up to $500,000 (the "Note") to Mountain Crest Global H
Filing Documents
- mountaincrest5_8k.htm (8-K) — 31KB
- mountaincrest5_ex10-1.htm (EX-10.1) — 23KB
- 0001829126-24-005553.txt ( ) — 278KB
- mcag-20240814.xsd (EX-101.SCH) — 3KB
- mcag-20240814_def.xml (EX-101.DEF) — 26KB
- mcag-20240814_lab.xml (EX-101.LAB) — 36KB
- mcag-20240814_pre.xml (EX-101.PRE) — 25KB
- mountaincrest5_8k_htm.xml (XML) — 6KB
03
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On August 14, 2024, Mountain Crest Acquisition Corp. V (the "Company") issued an unsecured promissory note in the aggregate principal amount up to $500,000 (the "Note") to Mountain Crest Global Holdings LLC, the Company's sponsor (the "Sponsor"). Pursuant to the Note, the Sponsor agreed to loan to the Company an aggregate amount up to $500,000 that may be drawn down by the Company from time to time by written notice to the Sponsor. The aggregate amount advanced under the Note is due payable by the Company on the earlier of: (i) the date on which Company consummates an initial business combination with a target business, or (ii) the date the Company liquidates if a business combination is not consummated. The Note does not bear interest. In the event that the Company does not consummate a business combination, the Note will be repaid only from amounts remaining outside of the Company's trust account, if any. The proceeds of the Note will be used by the Company for working capital purposes. The foregoing description of the Note is qualified in its entirety by reference to the full text of the Note, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference. No Offer or Solicitation This Current Report on Form 8-K is for informational purposes only and is not intended to and shall not constitute a proxy statement or the solicitation of a proxy, consent or authorization with respect to any securities or in respect of an initial business combination or PIPE financing and is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offe
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. EXHIBIT NO. DESCRIPTION 10.1 Promissory Note, dated August 14, 2024 between Mountain Crest Acquisition Corp. V, as Maker and Mountain Crest Global Holdings LLC as Payee 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 15, 2024 MOUNTAIN CREST ACQUISITION CORP. V By: /s/ Suying Liu Name: Suying Liu Title: Chief Executive Officer 2