Mountain Crest Acquisition IV priced its IPO of 5 million units at $10 each.
Mountain Crest IV will target companeis in North America.
The SPAC is led by Chairman, CEO and CFO Dr. Suying Liu, who also oversees Mountain Crest II and III. Management’s first Mountain Crest SPAC closed a merger with Playboy in February for $381 million.
Units begin trading today on the Nasdaq under MCAFU. Each consists of one share of common stock and one right to receive one-tenth of one share of common stock upon the consummation of a business combination.
Once the securities comprising the units begin separate trading, stock and rights are expected to list under MCAF and MCAFR, respectively.
Network 1 Financial Securities was sole book running manager in the offering. Maxim Group acted as an underwriter. The underwriters have a 45-day option to purchase up to an additional 750,000 units to cover over-allotments, if any.
The offering is expected to close July 2. Read more.