Mountain Crest Acquisition IV, the fourth blank check company formed by Suying Liu, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
Mountain Crest Acquisition III is led by CEO, CFO, and Chairman Suying Liu, the former Head of Corporate Strategy at Hudson Capital Chief Strategist of Mansion Capital. Liu's previous SPACs include Mountain Crest Acquisition III (MCAEU; +3% from offer price), which went public last month; Mountain Crest Acquisition II (MCAD; -1%), which has a pending merger agreement with digital therapeutics company Better Therapeutics; and Mountain Crest Acquisition, which completed its combination with Playboy Enterprises (PLBY; +293%) in February 2021.
Mountain Crest Acquisition IV plans to target North American businesses with positive operating cash flow or compelling economics and clear paths to positive operating cash flow.
Mountain Crest Acquisition IV plans to list on the Nasdaq under the symbol MCAFU. Network 1 Financial Securities acted as sole bookrunner on the deal.
