Mountain Crest Acquisition Corp. II (MCAD) Shareholders Approve Proposed Merger with Better Therapeutics Inc

October 27, 2021 4:56 PM EDT

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Mountain Crest Acquisition Corp. II (NASDAQ: MCAD) (the “Company”), a publicly traded special purpose acquisition company, announced today that in a special meeting of stockholders on October 27, 2021, its stockholders voted to approve its proposed business combination (the “business combination”) with Better Therapeutics Inc. (“Better Therapeutics”), a company engaged in developing a novel form of cognitive behavioral therapy to address the root causes of cardiometabolic diseases.

The business combination is expected to close on October 28, 2021, subject to the satisfaction of certain customary closing conditions. As part of the consummation of the business combination, the Company will change its name to “Better Therapeutics, Inc.” Trading on The Nasdaq Capital Market, under the new ticker symbol “BTTX,” is expected to begin on October 29, 2021.

“I am pleased to complete this business combination with MCAD. The proceeds from this transaction and other financing will enable Better Therapeutics to advance its pipeline of prescription digital therapeutics for treating cardiometabolic diseases,” said Kevin Appelbaum, Chief Executive Officer of Better Therapeutics.

Dr. Suying Liu, Chairman and Chief Executive Officer of the Company, commented, “I am grateful for the support of all of our stockholders, and excited by the opportunity to partner with Kevin and the whole Better Therapeutics team on the next stage of growth of its business.”

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