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Mountain Crest Acquisition 6 Corp.
Mountain Crest Acquisition 6 Corp. went public in November 2021, offering 6 million units at $10 each for gross proceeds of $60 million, as detailed in SEC...
Mountain Crest Acquisition 6 Corp.
Mountain Crest Acquisition 6 Corp. went public in November 2021, offering 6 million units at $10 each for gross proceeds of $60 million, as detailed in SEC filings. Dr. Suhua Chen serves as CEO and director; the sponsor is listed as Chardan Capital Markets, a frequent underwriter of SPACs. The company was formed to identify and merge with a technology-focused business, with no specific target identified at IPO. The blank-check company sought a merger partner in technology sectors, including but not limited to the U.S. and Asia. Mountain Crest 6 followed previous vehicles from the same sponsor — Mountain Crest Acquisition Corp. (formerly Mountain Crest Acquisition I), which merged with Nuburu, a high-power industrial laser developer, in 2021. The sixth iteration had until late 2023 to complete a business combination or face liquidation. As of early 2024, Mountain Crest 6 had not announced a definitive agreement, and unit prices traded near trust value, reflecting market skepticism about finding a deal. The company maintained a trust account with funds from the IPO, typically held in U.S. Treasury securities. No additional professionals or offices beyond the New York address were publicly disclosed. The SPAC structure itself is the key differentiator: unlike traditional operating companies, Mountain Crest 6 exists solely to facilitate a reverse merger, with all strategy centered on identifying and closing a combination within two years. The Chardan affiliation provides underwriting and advisory support but does not indicate operational assets or ongoing investment activity.
General information
Firm type
SPAC (Special Purpose Acquisition Company)
Year founded
2021
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Dr. Chardan Capital Markets
Sponsor/Underwriter
Dr. Suhua Chen
CEO & Director
Sector focus
Frequently asked questions
Who runs investment decisions at Mountain Crest Acquisition 6 Corp.?
Dr. Suhua Chen is CEO and director, making final decisions on potential merger targets. The sponsor, Chardan Capital Markets, provides advisory and underwriting support but does not control investment decisions. Chen previously led earlier Mountain Crest SPACs, including one that merged with Nuburu.
What is the structure of Mountain Crest Acquisition 6 Corp.?
It is a special purpose acquisition company (SPAC) — a shell company that raises capital via an IPO and seeks to merge with a private company to take it public. The company has no operations and exists solely to identify and complete a business combination within a limited timeframe.
Is Mountain Crest Acquisition 6 Corp. related to earlier Mountain Crest SPACs?
Yes. It is the sixth in a series of blank-check vehicles from the same sponsor, Chardan Capital Markets. Earlier iterations include Mountain Crest Acquisition Corp. (I), which merged with Nuburu (NYSE: BURU) in 2021. Each SPAC is a separate legal entity but shares similar leadership and sponsorship.
What is the target deadline for a business combination?
The company originally had until September 19, 2023, to complete a merger but received an automatic six-month extension to November 19, 2023. As of that extension, no definitive agreement had been announced, and the SPAC faced potential liquidation if no deal closed.
How does Mountain Crest Acquisition 6 Corp. differ from a traditional family office?
Unlike a family office that manages ongoing capital for a wealthy family, this SPAC is a one-purpose vehicle designed to execute a single reverse merger. It has no permanent investment team, no long-term portfolio, and its existence is finite. The sponsor provides the capital and expertise for the search, not for ongoing asset management.
What are the risks for investors in Mountain Crest Acquisition 6 Corp.?
Key risks include failing to complete a merger within the deadline, which would trigger liquidation and return of trust proceeds (typically around $10 per share) to public shareholders. Additionally, the SPAC market has seen many deals fail or underperform; the sponsor may also walk away without a deal.
Is Mountain Crest Acquisition 6 Corp. still seeking a merger target?
Public records show that as of late 2023, the company had not announced a definitive merger agreement. The SPAC's deadline for a business combination was November 2023, and no subsequent updates suggest a completed deal. Investors should check SEC filings for the current status.
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