Mountain Crest Acquisition V announced today that it has received approval from the Nasdaq to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market.
The SPAC’s common stock, units and rights will continue to trade under the symbols MCAG, MCAGU and MCAGR, respectively. The transfer will be effective at the opening of business Oct. 27.
The SPAC’s shareholders redeemed more than 92% of the trust on an extension vote in May.
Mountain Crest V had received notifications from the Nasdaq that it had fallen short of listing requirements for the Nasdaq Global Market. The transfer resolves the issue.
AUM Biosciences called off its proposed merger in June with Mountain Crest V. Announced in October, the deal had a pre-money equity value of $400 million.
The SPAC’s termination deadline is February 2024. Read more.
