Mountain Crest Acquisition V Increases Deal Size by 20% Ahead of $60M IPO


Mountain Crest Acquisition V in an amended S-1 filing disclosed it now plans to offer 6 million units rpice at $10 each, up 1 minnion units from the initial filing last month.

A unit will still consist of one share and one right to receive one-tenth of a share.

The latest Mountain Crest SPAC from Dr. Suying Liu plans to pursue prospective targets in North America and the Asia Pacific regions, excluding China, Hong Kong and Macau.

Liu is a former chief strategist of Mansion Capital, a privately-held real estate investment firm with brokerage and property management operations serving clients in North America and Asia for investments in the U.S. real estate market. Prior to Mansion, he was an investment strategist at J.P. Morgan Chase. 

Chardan, the representative of the underwriters, has an option to purchase up to 900,000 additional units to cover over-allotments, if any.

The SPAC has applied to list on the Nasdaq under MCAGU. Read more.

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