Sichenzia Ross Ference LLP Represents ETAO International Group in $2.5 Billion Definitive Merger Agreement with Mountain Crest Acquisition Corp. III

Press Release – New York, NY – February 1, 2022– Sichenzia Ross Ference LLP announced today that it is representing ETAO International Group in a definitive merger agreement with Mountain Crest Acquisition Corp. III (Nasdaq: MCAER), a publicly traded special purpose acquisition company (“SPAC”). The transaction values 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. Upon completion of the transaction, which is anticipated in the summer of 2022, the combined company will operate as ETAO and securities are expected to be listed on NYSE under the symbol “ETAO”. The transaction includes a $250 million private investment in public equity at $10.00 per share in connection with the business combination transaction. Separately, ETAO has also received commitments through a separate private placement of $51 million.

The Sichenzia Ross Ference LLP team was led by partners Huan Lou, Arthur Marcus, Jay Kaplowitz, Jennifer Trowbridge, counsel Michael Savage, and associate Mayank Pradhan.

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Sichenzia Ross Ference Carmel LLP is a full service law firm with a nationally recognized corporate, securities and litigation practice that provides experienced representation in all matters involving the securities industry. In addition to handling routine to complex commercial matters, SRFC’s renowned litigation department specializes in defending companies and individuals against all types of securities cases, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations. The litigation team has also brought defamation lawsuits against companies and individuals related to market manipulation. Additionally, it represents individuals and companies in investigations by the Securities and Exchange Commission (SEC) and other regulatory bodies. The litigation team has a robust practice representing brokers and broker-dealers in arbitrations before the Financial Industry Regulatory Authority (FINRA). These arbitrations typically involve claims of unsuitability, churning, unauthorized trading and other allegations of broker misconduct. Finally, SRF has a burgeoning expungement practice, where it represents brokers seeking to have negative and harmful customer complaints removed from their industry records. The firm complements its core practice areas with an established commercial real estate and trusts and estates practice.

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Sichenzia Ross Ference LLP Represents ETAO International Group in $2.5 Billion Definitive Merger Agreement with Mountain Crest Acquisition Corp. III

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