Mountain Crest Acquisition Corp V (MCAG) is a blank-check special purpose acquisition company (SPAC) organized to identify and complete a merger or business combination with a private operating company. It generates no operating revenue. Instead, it holds capital raised in its IPO in a trust account, with the intent to deploy that capital through a qualifying business combination. As of the 10-K filed March 16, 2026, MCAG had entered into a Business Combination Agreement dated August 29, 2024, with CUBEBIO Co., Ltd., a Korean corporation, under which MCAG would merge into a Cayman Islands holding company (CubeBio Holdings Limited, or PubCo), with CUBEBIO shareholders exchanging their shares for PubCo ordinary shares. If the combination closes, PubCo ordinary shares are expected to list on Nasdaq. MCAG trades on the OTC Pink Market. The company was founded and is led by Dr. Suying Liu, who serves as Chairman, Chief Executive Officer, and Chief Financial Officer, and who previously co-founded Mountain Crest Acquisition Corp (MCAC) in November 2019.

Revenue model

MCAG has no operating revenue. Capital from its IPO is held in a trust account and earns interest. Funds are returned to public shareholders via redemption if a business combination is not completed.

Products and services

Blank-check SPAC vehicle targeting a business combination. Pending transaction: merger with CUBEBIO Co., Ltd. (Korea) via a Cayman Islands holding company structure (CubeBio Holdings Limited).

Customers and end markets

Public shareholders who participate in the SPAC IPO and trust structure. No commercial customers or end markets, as MCAG is a pre-combination shell company.

Value-chain role

SPAC sponsor and acquisition vehicle. Raises capital from public markets and deploys it through a single business combination transaction.

Geographic exposure

Incorporated in the United States (Delaware). Pending combination involves CUBEBIO Co., Ltd., organized under Korean law. Post-combination holding company to be incorporated in the Cayman Islands.

Source: SEC 10-K, filed 2026-03-16

Industry: Surgical & Medical Instruments & Apparatus