Owl Creek Asset Management Exits Mountain Crest Acquisition Corp. V
Ticker: MCAGU · Form: SC 13G/A · Filed: Feb 5, 2024 · CIK: 1859035
| Field | Detail |
|---|---|
| Company | Mountain Crest Acquisition CORP. V (MCAGU) |
| Form Type | SC 13G/A |
| Filed Date | Feb 5, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, divestment, spac, amendment
TL;DR
**Owl Creek Asset Management sold all its Mountain Crest Acquisition Corp. V shares.**
AI Summary
Owl Creek Asset Management, L.P. filed an amended SC 13G/A on February 5, 2024, indicating they no longer beneficially own any shares of Mountain Crest Acquisition Corp. V's common stock as of December 31, 2023. This filing, an amendment to a previous disclosure, shows a complete divestment from the SPAC. For investors, this means a significant institutional holder has exited their position, potentially signaling a lack of confidence or a shift in investment strategy regarding Mountain Crest Acquisition Corp. V.
Why It Matters
This filing shows a major institutional investor, Owl Creek Asset Management, has sold all its shares in Mountain Crest Acquisition Corp. V, which could be a bearish signal for current or prospective shareholders.
Risk Assessment
Risk Level: medium — The complete divestment by an institutional investor can indicate a lack of future growth prospects or concerns about the company's direction, posing a medium risk to other investors.
Analyst Insight
A smart investor would view Owl Creek Asset Management's complete exit as a potential red flag and conduct further due diligence on Mountain Crest Acquisition Corp. V's prospects and any upcoming corporate actions before making investment decisions.
Key Numbers
- 0 — Sole Voting Power (Owl Creek Asset Management, L.P. holds no shares with sole voting power as of December 31, 2023.)
- 0 — Shared Voting Power (Owl Creek Asset Management, L.P. holds no shares with shared voting power as of December 31, 2023.)
- 0 — Sole Dispositive Power (Owl Creek Asset Management, L.P. holds no shares with sole dispositive power as of December 31, 2023.)
- 0 — Shared Dispositive Power (Owl Creek Asset Management, L.P. holds no shares with shared dispositive power as of December 31, 2023.)
Key Players & Entities
- Owl Creek Asset Management, L.P. (company) — the reporting person that filed the SC 13G/A
- Mountain Crest Acquisition Corp. V (company) — the subject company whose securities are being reported
- Delaware (place) — place of organization for Owl Creek Asset Management, L.P.
- December 31, 2023 (date) — the date of the event which requires the filing of this statement
- $0.0001 (dollar_amount) — par value of Mountain Crest Acquisition Corp. V's common stock
Forward-Looking Statements
- Other institutional investors may re-evaluate their positions in Mountain Crest Acquisition Corp. V following Owl Creek's complete divestment. (Mountain Crest Acquisition Corp. V) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 1) to a previous Schedule 13G, indicating a change in beneficial ownership by Owl Creek Asset Management, L.P. regarding Mountain Crest Acquisition Corp. V's common stock, specifically showing a complete divestment.
Who is the reporting person in this filing?
The reporting person is Owl Creek Asset Management, L.P., a company organized in Delaware.
What is the subject company of this filing?
The subject company is Mountain Crest Acquisition Corp. V, a blank check company with the CUSIP Number 62404B107.
As of what date did the event requiring this filing occur?
The date of the event which requires the filing of this statement was December 31, 2023.
How many shares does Owl Creek Asset Management, L.P. beneficially own in Mountain Crest Acquisition Corp. V according to this filing?
According to this filing, Owl Creek Asset Management, L.P. beneficially owns 0 shares, with no sole or shared voting or dispositive power, as of December 31, 2023.
Filing Stats: 1,103 words · 4 min read · ~4 pages · Grade level 7.6 · Accepted 2024-02-05 16:13:09
Key Financial Figures
- $0.0001 — rp. V (Name of Issuer) Common Stock, $0.0001 par value (Title of Class of Securitie
Filing Documents
- p24-0522sc13ga.htm (SC 13G/A) — 58KB
- 0000902664-24-001049.txt ( ) — 60KB
(a)
Item 1(a). NAME OF ISSUER. The name of the issuer is Mountain Crest Acquisition Corp. V (the “ Issuer ”).
(b)
Item 1(b). ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES: The Issuer’s principal executive offices are located at 311 West 43 rd Street, 12 th Floor, New York, NY 10036.
(a)
Item 2(a). NAME OF PERSON FILING: (i) Owl Creek Asset Management, L.P., a Delaware limited partnership and the investment manager of Owl Creek Credit Opportunities Master Fund, Ltd. (the “ Owl Creek Fund ”), with respect to the shares of Common Stock that were owned by the Owl Creek Fund and (ii) Jeffrey A. Altman (“ Mr. Altman ”), as managing member of the general partner of Owl Creek Asset Management, L.P., with respect to the shares of Common Stock that were owned by the Owl Creek Fund. The foregoing persons are hereinafter sometimes collectively referred to as the “ Reporting Persons .”
(b)
Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal business office of each of the Reporting Persons is 640 Fifth Avenue, 20th Floor, New York, NY 10019.
(c)
Item 2(c). CITIZENSHIP: Owl Creek Asset Management, L.P. is a limited partnership organized under the laws of the State of Delaware. Mr. Altman is a United States citizen.
(d)
Item 2(d). TITLE OF CLASS OF SECURITIES: Common stock, $0.0001 par value (the “ Common Stock ”).
(e)
Item 2(e). CUSIP NUMBER: 62404B107 CUSIP No. 62404B107 13G/A Page 5 of 7 Pages Item 3. IF THIS STATEMENT IS FILED PURSUANT TO §§ 240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) Investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) Employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) Parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) Church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); (j) Non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution:_____________________________________ Item 4. The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person. Item 5. If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following: x CUSIP No. 62404B107 13G/A Page 6 of 7 Pages Item 6. Not ap
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. DATED: February 5, 2024 /s/ Jeffrey A. Altman Jeffrey A. Altman, individually and as managing member of the general partner of Owl Creek Asset Management, L.P.