Conversation so far:
What was the band King Diamond's first release?
No Presents for Christmas is the first music released by King Diamond's new band, after the breakup of Mercyful Fate.
What is notable about the band King Diamond's formation?
The band was formed by vocalist King Diamond, guitarist Michael Denner, and bassist Timi Hansen from the group Mercyful Fate.

Question: What else can you tell me about their formation?
Self-contained rewrite: What else can you tell me about the band King Diamond's formation other than the members that came over from Mercyful Fate?