ETAO International Group to Become Publicly Traded Global Digital Healthcare Platform via Merger with Mountain Crest Acquisition Corp. III (MCAE)

ETAO International Group to Become Publicly Traded Global Digital Healthcare Platform via Merger with Mountain Crest Acquisition Corp. III

Transaction values ETAO International Group (ETAO) at a pro forma fully diluted enterprise value of approximately $2.5 billion with existing ETAO shareholders rolling over 100% of their equity into equity of the combined company

Transaction expected to provide up to $304 million of cash proceeds, including a fully committed $250 million PIPE at $10 per share and up to $54 million of cash held in the trust account of Mountain Crest Acquisition Corp. III (Mountain Crest III) assuming no redemptions by Mountain Crest III shareholders

ETAO also received commitments through a separate private placement of $51... More