Mountain Crest Acquisition Corp. II announced that it has entered into a subscription agreement for a private placement of 185,000 units at a price of $10 per unit with Mountain Crest Capital Llc and Chardan Capital Markets, LLC for gross proceeds of $1,850,000 on December 21, 2020. The company will grant an over-allotment option to purchase 200,000 units. Each unit consists of one common share and one right to receive one-tenth (1/10) of a share of common stock. The securities are subject to a hold period for six months. The Chardan Capital Markets, LLC will subscribe for 50,000 units and Mountain Crest Capital Llc will subscribe for 135,000 units. The investors has also agreed that if the over-allotment option is exercised by the underwriters, they will purchase up to a maximum of an additional 7,500 private units each.