Mountain Crest Acquisition V said it was notified by the Nasdaq that it regained complaince with the market value of listed securities requirement of at least $35 million for 10 consecutive trading days.
The SPAC was originally notified of the deficiency in December.
Mountain Crest V last month signed a term sheet for a potential deal with CUBEBIO, a Korea-based company with a technology that diagnoses cancer at an early stage. Based on the non-binding term sheet, the pre-transaction equity value of CUBEBIO for the proposed business combination is $620 million. Read more.
