SPAC Mountain Crest Acquisition files for a $50 million IPO

SPAC Mountain Crest Acquisition files for a $50 million IPO

Mountain Crest Acquisition, a blank check company focusing on acquiring a private equity portfolio com

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Mountain Crest Acquisition, a blank check company focusing on acquiring a private equity portfolio company, filed on Friday with the SEC to raise up to $50 million in an initial public offering.

The New York, NY-based company plans to raise $50 million by offering 5 million units at a price of $10. Each unit consists of one share and one right to receive on tenth of one share. At the proposed deal size, Mountain Crest Acquisition would command a market value of $66 million. The SPAC is led by CEO and Chairman Suying Liu, the Head of Corporate Strategy at Hudson Capital (Nasdaq: HUSN) and CFO Dong Liu. Mountain Crest Acquisition intends to focus on North American companies with under-researched and underappreciated assets poised for significant growth once capitalized.

The New York, NY-based company was founded in 2019 and plans to list on the Nasdaq under the symbol MCACU. Chardan Capital Markets is the sole bookrunner on the deal.

The article SPAC Mountain Crest Acquisition files for a $50 million IPO originally appeared on IPO investment manager…

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