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SPAC · Deal announced · MCAG

Mountain Crest Acquisition Corp. V

Business combination with CUBEBIO Co., Ltd.

Mountain Crest Acquisition Corp. V (MCAG) is a blank-check company (SPAC) that raised $60M in its initial public offering on Nov 15, 2021, listing on Nasdaq Global Market. It agreed to combine with CUBEBIO Co., Ltd., announced on Aug 30, 2024, at a stated value of $375M. The deal has not closed yet. Chardan led the IPO. Loeb & Loeb advised the SPAC and Reed Smith advised the underwriters on the IPO.

CUBEBIO Co. is a Korean in-vitro diagnostic company that has developed a technology to detect cancer early by analyzing concentrations of specific metabolites in urine, which is easy to collect. It holds 37 Korean patents on cancer diagnosis, including a pancreatic cancer diagnostic kit.

Status
Deal announced
Ticker
MCAG
IPO date
Nov 15, 2021
IPO size
$60M
IPO exchange
Nasdaq Global Market
Target
CUBEBIO Co., Ltd.
Target sector
Other
Announced
Aug 30, 2024
Stated deal value
$375M
Combined company
CubeBio Holdings Limited
IPO underwriters
Chardan
SPAC counsel (IPO)
Loeb & Loeb
Underwriters' counsel (IPO)
Reed Smith

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