Mountain Crest Acquisition Corp. II announced the pricing of its $50 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “MCADU” Friday, January 8.
The new company aims to combine with a private equity-owned business in North America with a scientific or other competitive advantage over rivals. Mountain Crest II is led by Chairman and CEO Suying Liu alongside CFO Dong Liu.
Total SPAC deal count for 2021 year-to-date is now 20 with $4.9 billion in gross proceeds raised. This offering is expected to close on Tuesday, January 12.
Chardan Capital Markets LLC is acting as sole book-running manager. Loeb & Loeb LLP is serving as Issuer’s Counsel with Reed Smith LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
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