Mountain Crest Acquisition Corp. V (MCAG) is a SPAC — a blank check company with no operations whose sole purpose is to identify and merge with a private company, taking it public. Mountain Crest V raised $69M in its November 2021 IPO and holds those proceeds in a trust account while it searches for a merger target. Public investors buy shares at $10.00 each, those funds sit in trust, and investors can redeem their shares for their pro rata share of the trust if they don't like the proposed deal. If Mountain Crest V completes a merger, the combined company lists publicly under a new name; if it fails to do so by November 2026, it liquidates and returns the trust to shareholders. Mountain Crest V's current target is CUBEBIO, a South Korea-based in-vitro diagnostics company focused on early-stage cancer screening through urine analysis, with a definitive agreement signed in August 2024. The SPAC is the fifth vehicle founded by Dr. Suying Liu, who serves as Chairman, CEO, and CFO. The sponsor earns its returns through the standard SPAC promote structure — receiving founder shares at nominal cost that represent roughly 20% of post-IPO shares, which become valuable only if a deal closes. The sponsor also charges $10,000 per month in administrative fees and has extended working capital loans to Mountain Crest V via unsecured promissory notes. Mountain Crest V's Nasdaq listing was suspended in November 2024 due to non-compliance with listing rules, and its securities now trade over-the-counter.