Mountain Crest Acquisition Corp. III Announces Closing of $50 Million Initial Public Offering
Mountain Crest Acquisition Corp. III (NASDAQ: MCAEU) has successfully closed its initial public offering of 5,000,000 units at $10.00 each. Each unit consists of one share of common stock and one right to receive one-tenth of one share upon a future business combination. The units began trading on NASDAQ under the ticker symbol MCAEU from May 18, 2021. Additionally, the underwriters have a 45-day option for an extra 750,000 units to cover over-allotments. Chardan served as the sole book-running manager for the offering.
- Successful closure of IPO raising $50 million.
- Units began trading under ticker symbol MCAEU.
- Underwriters' option for additional 750,000 units indicates strong demand.
- None.
NEW YORK, May 20, 2021 (GLOBE NEWSWIRE) -- Mountain Crest Acquisition Corp. III (NASDAQ: MCAEU, the “Company”) announced today that it closed its initial public offering of 5,000,000 units at
The units are listed on The NASDAQ Capital Market (“NASDAQ”) and began trading under the ticker symbol “MCAEU” on May 18, 2021. Once the securities comprising the units begin separate trading, the common stock and rights are expected to be listed on NASDAQ under the symbols “MCAE,” and “MCAER,” respectively.
The underwriters have been granted a 45-day option to purchase up to an additional 750,000 units offered by the Company to cover over-allotments, if any.
Chardan acted as sole book running manager in the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 17, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Chardan, 17 State Street, 21st floor, New York, New York 10004. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Mountain Crest Acquisition Corp. III
Mountain Crest Acquisition Corp. III is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Mountain Crest Acquisition Corp. III’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses in North America.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact:
Mountain Crest Acquisition Corp. III
Dr. Suying Liu
Chairman, CEO and CFO
311 W 43rd St, 12th Fl, New York, NY 10036
(646) 493-6558
FAQ
What is the total amount raised in Mountain Crest Acquisition Corp. III's IPO?
When did Mountain Crest Acquisition Corp. III's units start trading?
What does each unit in Mountain Crest Acquisition Corp. III's IPO consist of?
Who managed the IPO for Mountain Crest Acquisition Corp. III?
What is the ticker symbol for Mountain Crest Acquisition Corp. III's units?
