SEC Form DEFM14A filed by Mountain Crest Acquisition Corp. III
$MCAE
Consumer Electronics/Appliances
Industrials
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NEW YORK, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Mountain Crest Acquisition Corp. III (NASDAQ:MCAE, "Mountain Crest"))), a publicly traded special purpose acquisition corporation or SPAC, today announced the completion of its business combination with ETAO International Group ("EIG"), a digital healthcare group providing high quality medical care using biomedical and AI technologies to patients in China. The securities of ETAO International Co., Ltd. ("ETAO"), the parent holding company of the resulting combined company, will commence trading its shares on Nasdaq under the ticker symbol "ETAO" on February 21, 2023. The shareholders of Mountain Crest Acquisition Corp. III approved the transacti
Transaction values ETAO International Group ("ETAO") at a pro forma fully diluted enterprise value of approximately $2.5 billion with existing ETAO shareholders rolling over 100% of their equity into equity of the combined company Transaction expected to provide up to $304 million of cash proceeds, including a fully committed $250 million PIPE at $10 per share and up to $54 million of cash held in the trust account of Mountain Crest Acquisition Corp. III ("Mountain Crest III") assuming no redemptions by Mountain Crest III shareholders ETAO also received commitments through a separate private placement of $51 million Transaction is expected to close in the summer of 2022, with
25-NSE - Mountain Crest Acquisition Corp. III (0001853775) (Subject)
8-K - Mountain Crest Acquisition Corp. III (0001853775) (Filer)
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SC 13G/A - Mountain Crest Acquisition Corp. III (0001853775) (Subject)
SC 13G/A - Mountain Crest Acquisition Corp. III (0001853775) (Subject)
SC 13G - Mountain Crest Acquisition Corp. III (0001853775) (Subject)