Mountain Crest Acquisition Corp. V Announces Closing of Fully-Exercised Over-Allotment Option in Connection with Its Initial Public Offering

Nov 18, 2021

NEW YORK, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Mountain Crest Acquisition Corp. V (NASDAQ: MCAGU, the “Company”) announced today that the underwriters in its initial public offering, pursuant to the terms of the underwriting agreement, fully exercised their over-allotment option and, on November 18, 2021, purchased 900,000 units, generating additional gross proceeds of $9,000,000. Each unit consists of one share of common stock and one right to receive one-tenth of one share of common stock upon the consummation of an initial business combination.

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