Brief: CH-AUTO announces Plans To Become A Public Company Via Merger Transaction With Mountain Crest Acquisition Corp. IV

Mountain Crest Acquisition IV

02/05/2022 15:16

May 2 (Reuters) - Mountain Crest Acquisition Corp IV
 MCAF.O :
    * CH-AUTO, A CHINESE ELECTRIC VEHICLE MANUFACTURING AND
DESIGN
SERVICE COMPANY, ANNOUNCES PLANS TO BECOME A PUBLIC COMPANY VIA
MERGER TRANSACTION WITH MOUNTAIN CREST ACQUISITION CORP. IV
    * MOUNTAIN CREST ACQUISITION CORP IV - TRANSACTION IMPLIES
AN
INITIAL EQUITY VALUE OF APPROXIMATELY $1.25 BILLION
    * MOUNTAIN CREST ACQUISITION CORP IV - CH-AUTO FOUNDER AND
CEO QUN
LU WILL BECOME CEO OF PUBLICLY TRADED HOLDING ENTITY
    * MOUNTAIN CREST ACQUISITION CORP IV - UPON CLOSING OF
TRANSACTION, COMBINED COMPANY WILL OPERATE UNDER A HOLDING
ENTITY NAMED CH AUTO INC
    * MOUNTAIN CREST ACQUISITION CORP IV -  EACH SHARE OF
MOUNTAIN
CREST WILL BE EXCHANGED FOR ONE SHARE OF CH-AUTO
    * MOUNTAIN CREST ACQUISITION CORP IV -  CH-AUTO SHAREHOLDERS
AND
PRE-EXISTING PUBCO SHAREHOLDERS ENTITLED TO RECEIVE ABOUT 125
MILLION SHARES AT $10/SHARE

Source text for Eikon:  ID:nGNX4KSTQx 
Further company coverage:  MCAF.O 

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