The extension is virtually guaranteed given insider control, but the key variable is the redemption rate at the November 10 special meeting and the subsequent Business Combination vote on November 11. Monitor the redemption deadline (November 6) and whether the company can secure Nasdaq listing for PubCo post-merger. If redemptions are high, the trust account may shrink further, potentially jeopardizing deal economics.
Price Chart
Executive Summary
Mountain Crest Acquisition Corp. V is soliciting stockholder approval to extend its business combination deadline from November 16, 2026 to May 16, 2027, as it cannot close its pending merger with CubeBio Co., Ltd. before the current deadline. The trust account holds approximately $861,864 (~$11.95 per share), and public stockholders have redemption rights regardless of their vote. The sponsor (Suying Liu) controls ~71.9% of voting power, making approval virtually certain, but the extension does not add new funds to the trust and the company's securities trade on the OTC Market as penny stocks.
Key Facts
- Special meeting on November 10, 2026 to vote on extending the business combination deadline to May 16, 2027.
- Trust account held approximately $861,864 as of September 14, 2026; estimated redemption price ~$11.95 per share.
- Sponsor and insiders hold ~72.2% of voting power (2,073,000 of 2,873,023 outstanding shares), ensuring approval.
- Company has a pending Business Combination Agreement with CubeBio Co., Ltd. (Korea) signed August 29, 2024.
- Separate Business Combination Meeting scheduled for November 11, 2026 to approve the merger with CubeBio.
- Securities trade on OTC Market under symbols MCAG, MCAGR, MCAGU; subject to penny stock rules.
- Sponsor has loaned $1,550,000 to the company, repayable only upon closing of a business combination.
- Five prior extension amendments have been approved since 2022, with cumulative redemptions of ~6.8 million shares.
Financial Impact
Trust account of ~$861,864; estimated redemption price ~$11.95/share vs. last closing price of $13.27. Sponsor's potential loss if no deal: ~$29.37 million (founder shares, converted notes, private units, and loans).
Risk Factors
- If the CubeBio merger fails to close by May 16, 2027, the company will liquidate and public shares will be redeemed at ~$11.95, while rights expire worthless.
- High redemptions could deplete the trust account, reducing cash available for the combined company post-merger.
- Securities trade on OTC Market with penny stock designation, limiting liquidity and institutional interest.
- Potential CFIUS review or other regulatory hurdles could delay or block the Korean cross-border transaction.
- 1% excise tax on redemptions may apply, though sponsor has agreed to cover it if incurred.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001829126-26-011129 |
| Document: 0001829126-26-011129-index-headers.html | 0001829126-26-011129 |
| Document: 0001829126-26-011129-index.html | 0001829126-26-011129 |
| Document: 0001829126-26-011129.txt | 0001829126-26-011129 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | DEFM14A | $13.27 | awaiting T+20 | — | $13.27 (+0.00%) |
Oct 14, 2026 13d ago | DEF 14A | $13.27 | awaiting T+20 | — | $13.27 (+0.00%) |
US Market Status
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