It is our intention to pursue prospective targets in North America and the Asia Pacific region (excluding China). We shall not undertake our initial business combination with a target business with its principal business operations in China (including Hong Kong and Macau).

(Note: Mountain Crest Acquisition Corp. V priced its SPAC IPO on Nov. 11, 2021, in line with the recently upsized terms in its prospectus: 6 million units at $10 each to raise $60 million. The deal’s size had recently been increased to 6 million units from 5 million, its initial size, according to an SEC filing.)