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Mountain Crest Acquisition Corp. V(MCAGU)
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Mountain Crest Acquisition Corp. V(MCAGU) - 2022 Q3 - Quarterly Report
2022-11-07 22:25
Financial Performance - For the three months ended September 30, 2022, the company reported a net income of $41,649, consisting of interest earned on investments of $311,385, offset by general and administrative expenses of $211,056 and income tax provision of $58,680[131]. - For the nine months ended September 30, 2022, the company incurred a net loss of $121,444, with general and administrative expenses of $463,703 and income tax provision of $69,247, offset by interest income of $411,506[132]. - The company allocated total net income (loss) with a ratio of 76% for public redeemable shares and 24% for non-redeemable shares for the three and nine months ended September 30, 2022[151]. - As of September 30, 2022, the company did not have any dilutive securities, resulting in diluted income (loss) per share being the same as basic income (loss) per share[152]. Trust Account and IPO - As of September 30, 2022, the company held marketable securities in the Trust Account amounting to $69,399,348, including $399,348 of interest income[139]. - The company completed its Initial Public Offering on November 16, 2021, raising gross proceeds of $60,000,000 from the sale of 6,000,000 Units at $10.00 per Unit[134]. - The underwriters fully exercised their over-allotment option, resulting in an additional 900,000 Units issued for $9,000,000, bringing total proceeds in the Trust Account to $69,000,000[135]. - The company incurred transaction costs of $5,090,361 related to its Initial Public Offering, including $1,380,000 in underwriting fees[136]. Business Combination and Future Plans - The company has until February 16, 2023, to complete a Business Combination, following an extension granted by the execution of a Business Combination Agreement[122]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and any remaining proceeds for working capital[141]. Financial Position and Debt - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2022[146]. - The company has cash of $158,615 as of September 30, 2022, intended for identifying and evaluating target businesses[142]. Accounting Standards and Impact - The company is currently assessing the impact of ASU 2020-06 on its financial position, results of operations, or cash flows, effective January 1, 2022[153]. - Management does not believe that any recently issued accounting standards would have a material effect on its condensed financial statements[154]. Investment Strategy - The company has invested net proceeds from its IPO in U.S. government treasury obligations with a maturity of 180 days or less, mitigating exposure to interest rate risk[156]. Equity Classification - The company’s common stock subject to possible redemption is classified as temporary equity, reflecting certain redemption rights outside of its control[150].
Mountain Crest Acquisition Corp. V(MCAGU) - 2022 Q2 - Quarterly Report
2022-08-12 21:01
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41062 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) MOUNTAIN CREST ACQUISITION CORP. V (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of incorporatio ...
Mountain Crest Acquisition Corp. V(MCAGU) - 2022 Q1 - Quarterly Report
2022-05-13 20:46
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 311 West 43rd Street, 12th Floor New York, NY 10036 (Address of principal executive offices) (646) 493-6558 (Issuer's telephone number) For the transition period from to Commission file number: 001-410 ...
Mountain Crest Acquisition Corp. V(MCAGU) - 2021 Q4 - Annual Report
2022-03-31 20:06
FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ________________ Commission file number: 001-40418 MOUNTAIN CREST ACQUISITION CORP. V (Exact name of registrant as specified in its charter) | Delaware | 86-243585 ...
Mountain Crest Acquisition Corp. V(MCAGU) - 2021 Q3 - Quarterly Report
2021-12-23 22:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-41062 MOUNTAIN CREST ACQUISITION CORP. V (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...