Mountain Crest Acquisition, a blank check company targeting a private equity portfolio company in North America, raised $50 million by offering 5.0 million units at $10. The units consist of one share of common stock and one right to receive one-tenth of a share upon completion of a merger.
The New York, NY-based SPAC is led by CEO and Chairman Suying Liu, the Head of Corporate Strategy at Hudson Capital (Nasdaq: HUSN) and former Chief Strategist of Mansion Capital LLC.
Mountain Crest Acquisition plans to list on the Nasdaq under the symbol MCACU. Chardan Capital Markets acted as lead manager on the deal.
