CUBEBIO Co., Ltd. entered into terms relating to a potential business combination with Mountain Crest Acquisition Corp. V
Mountain Crest V is the fifth vehicle in the Mountain Crest family of SPACs, the management of which has successfully completed four prior SPAC business combinations.
- Mountain Crest V is the fifth vehicle in the Mountain Crest family of SPACs, the management of which has successfully completed four prior SPAC business combinations.
- Based on the non-binding term sheet, the pre-transaction equity value of CUBEBIO for the proposed business combination is $620 million, subject to adjustment depending on additional due diligence by Mountain Crest V and market conditions.
- Dr. Suying Liu, Chairman, CEO and CFO of Mountain Crest V commented, “CUBEBIO‘s innovative diagnostic technology for cancer detection and active commercialization with contract in place point to significant growth potential.
- We are excited to be partnering with CUBEBIO on this proposed business combination.”
Eun-jong Choi, CEO of CUBEBIO emphasized, "We expect to execute a definitive merger agreement with Mountain Crest V, faithfully carry out the process for completing the business combination, and grow CUBEBIO into a global company by increasing corporate value."