Suying Liu's SPAC Mountain Crest Acquisition IV files for a $50 million IPO, following Playboy and Better Tx deals

Mountain Crest Acquisition IV, the fourth blank check company formed by Suying Liu, filed on Monday with the SEC to raise up to $50 million in an initial public offering.

The New York, NY-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and one-tenth of a right to receive one share upon the completion of an initial business combination. At the proposed deal size, the company would command a market value of $66 million. 

Mountain Crest Acquisition IV is led by CEO, CFO, and Chairman Suying Liu, the current CEO, CFO, and Chairman of Mountain Crest Acquisition III (MCAEU; +0% from offering price), and current CEO and Chairman of Mountain Crest Acquisition II (MCAD; +0%), which announced an initial business combination with Better Therapeutics in April. Previously, Liu served as CEO and Chairman of Mountain Crest Acquisition from 2019 until it closed its business combination with PLBY Group (PLBY; +325%) in February 2021.

The company was founded in 2021 and plans to list on the Nasdaq under the symbol MCAFU. Network 1 Financial Securities is the sole bookrunner on the deal.