# EDGAR Filing Document

**Accession Number:** 0001859035
**File Stem:** 0001829126-23-002402
**Filing Date:** 2023-3
**Character Count:** 21394
**Document Hash:** 3e4faf1dd07569fbc6a275cb17ae8f53
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-23-002402.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001829126-23-002402

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230330

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mountain Crest Acquisition Corp. V
- **CENTRAL INDEX KEY:** 0001859035
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41062
- **FILM NUMBER:** 23777442

**BUSINESS ADDRESS:**
- **STREET 1:** 311 WEST 43RD STREET, 12TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 646-493-6558

**MAIL ADDRESS:**
- **STREET 1:** 311 WEST 43RD STREET, 12TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 8-K**

**Current Report**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**March 30, 2023**

Date of Report (Date of earliest event reported)

**<u>Mountain Crest Acquisition Corp. V</u>**

(Exact Name of Registrant as Specified in its Charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-41062** | **86-1768041** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

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| | |
|:---|:---|
| **311 West 43rd Street, 12th Floor<br> New York, NY** | **10036** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(646) 493 6558**

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communications pursuant to Rule 425 under the Securities Act

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock | MCAG | The Nasdaq Stock Market LLC |
| Rights | MCAGR | The Nasdaq Stock Market LLC |
| Units | MCAGU | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Entry into a Material Definitive Agreement**

As previously announced, on October 19, 2022, Mountain Crest Acquisition Corp. V, a Delaware corporation ("SPAC"), entered into a Business Combination Agreement (as it may be amended, supplemented or otherwise modified from time to time) (the "Business Combination Agreement") with AUM Biosciences Pte. Ltd., a private company limited by shares incorporated in Singapore, with company registration number 201810204D (the "Company"). On January 27, 2023, SPAC, the Company, AUM Biosciences Limited, a Cayman Islands exempted company ("Holdco"), AUM Biosciences Subsidiary Pte. Ltd., a private company limited by shares incorporated in Singapore, with company registration number 202238778Z and a direct wholly-owned subsidiary of Holdco ("Amalgamation Sub"), and AUM Biosciences Delaware Merger Sub, Inc., a Delaware corporation and a direct wholly-owned subsidiary of Holdco ("Merger Sub"), entered into a joinder agreement pursuant to which Holdco, Amalgamation Sub, and Merger Sub joined the Business Combination Agreement as parties. On February 10, 2023, SPAC, the Company, Holdco, Amalgamation Sub, and Merger Sub entered into an amendment to Business Combination Agreement to extend the Outside Date in the Business Combination Agreement from February 15, 2023 to May 15, 2023. Capitalized terms used in this Current Report on Form 8-K but not otherwise defined herein have the meanings given to them in the Business Combination Agreement.

On March 30, 2023, SPAC, the Company, Holdco, Amalgamation Sub, and Merger Sub entered into an amendment to Business Combination Agreement (the "Amendment No. 2") to (1) consent to the termination of that certain stock escrow agreement, dated as of November 21, 2021, as amended, restated or otherwise modified from time to time, originally entered by and among SPAC, the initial shareholders listed on the signature pages thereto, and Continental Stock Transfer & Trust Company, as escrow agent, (2) remove the Closing condition that SPAC shall have net tangible assets of at least $5,000,001 on its pro forma consolidated balance sheet after giving effect to the Closing, (3) eliminate SPAC's right to designate a director of the Holdco Board and (4) update the Company Interests issued and paid-up as of the Amalgamation Effective Time from 8,779,752 Company Ordinary Shares to 9,841,118 Company Ordinary Shares. No other changes were made to the Business Combination Agreement.

A copy of the Amendment No. 2 is filed herewith as Exhibit 2.1 and the foregoing description of the Amendment No. 2 is qualified in its entirety by reference thereto.

**IMPORTANT NOTICES**

**Important Information and Where to Find It**

This Current Report on Form 8-K relates to a proposed transaction between SPAC and the Company. This Current Report on Form 8-K does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the transaction described herein, SPAC and the Company have caused Holdco to file relevant materials with the SEC, including a registration statement on Form F-4 (as amended, the "F-4 Registration Statement"), which includes a proxy statement/prospectus. The proxy statement/prospectus will be sent to all SPAC stockholders. SPAC and Holdco will also file other documents regarding the proposed transaction with the SEC. **Before making any voting or investment decision, investors and security holders of SPAC are urged to read the F-4 Registration Statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.**

Investors and security holders are able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by SPAC through the website maintained by the SEC at www.sec.gov or by directing a request to SPAC to 311 West 43rd Street, 12th Floor, New York, NY 10036 or via email at sliu@mcacquisition.com.

**Participants in the Solicitation**

SPAC, Holdco and the Company, and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies from SPAC's stockholders in connection with the proposed transaction. Information about SPAC's directors and executive officers and their ownership of SPAC's securities is set forth in SPAC's filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph.

**Non-Solicitation**

This Current Report on Form 8-K is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of SPAC, Holdco or the Company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

**Forward-Looking Statements**

This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. SPAC's and the Company's actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, SPAC's and the Company's expectations with respect to future performance and anticipated financial impacts of the proposed business combination, the satisfaction of the closing conditions to the proposed business combination, and the timing of the completion of the proposed business combination.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside SPAC's and the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change, or other circumstances that could give rise to the termination of the Business Combination Agreement; (2) the outcome of any legal proceedings that may be instituted against SPAC and the Company following the announcement of the Business Combination Agreement and the transactions contemplated therein; (3) the inability to complete the proposed business combination, including due to failure to obtain approval of the stockholders of SPAC and the Company, certain regulatory approvals, or satisfy other conditions to closing in the Business Combination Agreement; (4) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Business Combination Agreement or could otherwise cause the transaction to fail to close; (5) the impact of the COVID-19 pandemic on the Company's business and/or the ability of the parties to complete the proposed business combination; (6) the inability to obtain the listing of Holdco's ordinary shares on Nasdaq following the proposed business combination; (7) the risk that the proposed business combination disrupts current plans and operations as a result of the announcement and consummation of the proposed business combination; (8) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, and retain its key employees; (9) costs related to the proposed business combination; (10) changes in applicable laws or regulations; (11) the possibility that SPAC or the Company may be adversely affected by other economic, business, and/or competitive factors; (12) risks relating to the uncertainty of the projected financial information with respect to the Company; (13) risks related to the organic and inorganic growth of the Company's business and the timing of expected business milestones; (14) the amount of redemption requests made by SPAC's stockholders; and (15) other risks and uncertainties indicated from time to time in the final prospectus of SPAC for its initial public offering and the F-4 Registration Statement relating to the proposed business combination, including those under "Risk Factors" therein, and in SPAC's other filings with the SEC. SPAC cautions that the foregoing list of factors is not exclusive. SPAC and the Company caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. SPAC and the Company do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based.

**Item 9.01 Financial Statements and Exhibits.**

**(d) Exhibits:**

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| | |
|:---|:---|
| **Exhibit** | **Description** |
| [2.1](mountaincrest5_ex2-1.htm) | [Amendment No. 2 to Business Combination Agreement, dated as of March 30, 2023, by and among Mountain Crest Acquisition Corp. V, AUM Biosciences Pte. Ltd., AUM Biosciences Limited, AUM Biosciences Subsidiary Pte. Ltd., and AUM Biosciences Delaware Merger Sub, Inc.](mountaincrest5_ex2-1.htm) |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| Dated: March 30, 2023 | Dated: March 30, 2023 |
| **MOUNTAIN CREST ACQUISITION CORP. V** | **MOUNTAIN CREST ACQUISITION CORP. V** |
| By: | /s/ Suying Liu |
| Name: | Suying Liu |
| Title: | Chief Executive Officer |

---

## Exhibit 2.1

**Exhibit 2.1**

**AMENDMENT #2 TO BUSINESS COMBINATION AGREEMENT**

THIS AMENDMENT #2 TO BUSINESS COMBINATION AGREEMENT (this "<u>Amendment #2</u>") is made as of March 30, 2023 (the "<u>Amendment Date</u>") by and among Mountain Crest Acquisition Corp. V, a Delaware corporation ("<u>SPAC</u>"), AUM Biosciences Limited, a Cayman Islands exempted company ("<u>Holdco</u>"), AUM Biosciences Subsidiary Pte. Ltd., a private company limited by shares incorporated in Singapore, with company registration number 202238778Z and a direct wholly-owned subsidiary of Holdco ("<u>Amalgamation Sub</u>"), AUM Biosciences Delaware Merger Sub, Inc., a Delaware corporation and a direct wholly-owned subsidiary of Holdco ("<u>Merger Sub</u>"), and AUM Biosciences Pte. Ltd., a private company limited by shares incorporated in Singapore, with company registration number 201810204D (the "<u>Company</u>"). Each of SPAC, the Company, Holdco, Amalgamation Sub and Merger Sub shall individually be referred to herein as a "<u>Party</u>" and, collectively, the "<u>Parties</u>." Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Agreement (as defined below).

WHEREAS, SPAC and the Company entered into that certain Business Combination Agreement dated as of October 19, 2022 (as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the "<u>Agreement</u>");

WHEREAS, the Parties entered into that certain joinder agreement dated as of January 27, 2023, pursuant to which Holdco, Amalgamation Sub and Merger Sub joined the Agreement as parties;

WHEREAS, pursuant to Section 11.11 of the Agreement, the Agreement may be amended in whole or in part, by a duly authorized agreement in writing executed in the same manner as the Agreement and which makes reference to the Agreement;

WHEREAS, the Parties entered into that certain Amendment to Business Combination Agreement dated as of February 10, 2023 ("<u>Amendment #1</u>" and together with this Amendment #2, the "<u>Amendments</u>"), pursuant to which the Agreement was amended in the manner described therein; and

WHEREAS, the Parties wish to further amend the Agreement as set forth in this Amendment #2.

NOW, THEREFORE, intending to be legally bound and in consideration of the mutual provisions set forth in the Amendments and the Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

ARTICLE 1

AMENDMENT TO THE AGREEMENT

**Section 1.1 <u>Amendment to Section 3.4(b) of the Agreement</u>**. Section 3.4(b) of the Agreement is hereby amended and revised to read as, "(b) As of immediately prior to the Amalgamation Effective Time, (i) no Company Preferred Shares shall be outstanding, (ii) the only Company Interests issued and paid-up shall be 9,841,118 Company Ordinary Shares, and (iii) the Company Preferred Shares shall have been converted into Company Ordinary Shares in compliance with the Company's Governing Documents and the terms of such Company Preferred Shares."

**Section 1.2 <u>Amendment to Section 6.4(a) of the Agreement</u>**. Section 6.4(a) of the Agreement is hereby amended and revised to read as, "(a) the Holdco Board shall consist of no less than five (5) directors, all of whom shall be designated by the Company, and which shall comply with all diversity requirements under applicable Law, each such director to hold office in accordance with the Holdco Governing Documents; and".

**Section 1.3 <u>Amendment to Section 9.1(i) of the Agreement</u>**. Section 9.1(i) of the Agreement is hereby deleted and shall be replaced with "[Reserved]."

**Section 1.4 <u>Addition of Section 11.18 to the Agreement</u>**. Section 11.18 is hereby added to the Agreement and shall read as, "11.18 <u>Termination of Stock Escrow Agreement</u>. Each of SPAC, the Acquisition Entities and the Company hereby determine in their reasonable business judgment that in order to satisfy Section 9.1(e) of this Agreement, SPAC shall seek termination of that certain stock escrow agreement, dated as of November 21, 2021, as amended, restated or otherwise modified from time to time, originally entered by and among SPAC, the initial shareholders listed on the signature pages thereto and Continental Stock Transfer & Trust Company, as escrow agent, and hereby consent to such termination thereof."

ARTICLE 2

MISCELLANEOUS

**Section 2.1 <u>No Other Amendment</u>**. Except to the extent that any provisions of or any Exhibits or Schedules to the Agreement are expressly amended by <u>Article 1</u> of this Amendment #2, all terms and conditions of the Agreement and all other documents, instruments and agreements executed thereunder, shall remain in full force and effect pursuant to the terms thereof. In the event of any inconsistency or contradiction between the terms of this Amendment #2 and the Agreement, the provisions of this Amendment #2 shall prevail and control.

**Section 2.2 <u>Reference to the Agreement</u>**. On and after the date hereof, each reference in the Agreement to "this Agreement," "hereof," "herein," "herewith," "hereunder" and words of similar import shall, unless otherwise stated, be construed to refer to the Agreement as amended by the Amendments. No reference to the Amendments need be made in any instrument or document at any time referring to the Agreement and a reference to the Agreement in any such instrument or document shall be deemed to be a reference to the Agreement as amended by the Amendments.

[Signature Page Follows]

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

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| | |
|:---|:---|
| **SPAC:** | **SPAC:** |
| MOUNTAIN CREST ACQUISITION CORP. V | MOUNTAIN CREST ACQUISITION CORP. V |
| By: | /s/ Suying Liu |
| Name: | Suying Liu |
| Title: | Chief Executive Officer |
| **COMPANY:** | **COMPANY:** |
| AUM BIOSCIENCES PTE. LTD. | AUM BIOSCIENCES PTE. LTD. |
| By: | /s/ Vishal Doshi |
| Name: | Vishal Doshi |
| Title: | Chairman and Chief Executive Officer |
| **HOLDCO:** | **HOLDCO:** |
| AUM BIOSCIENCES LIMITED | AUM BIOSCIENCES LIMITED |
| By: | /s/ Vishal Doshi |
| Name: | Vishal Doshi |
| Title: | Director |
| **AMALGAMATION SUB:** | **AMALGAMATION SUB:** |
| AUM BIOSCIENCES SUBSIDIARY PTE. LTD. | AUM BIOSCIENCES SUBSIDIARY PTE. LTD. |
| By: | /s/ Vishal Doshi |
| Name: | Vishal Doshi |
| Title: | Director |
| **MERGER SUB:** | **MERGER SUB:** |
| AUM BIOSCIENCES DELAWARE MERGER SUB, INC. | AUM BIOSCIENCES DELAWARE MERGER SUB, INC. |
| By: | /s/ Vishal Doshi |
| Name: | Vishal Doshi |
| Title: | Director |

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[*Signature Page to the Amendment to the Business Combination Agreement*]