Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 58

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 58
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 per Private Unit, generating gross proceeds to the Company of $8,050,000.

The Private Units are identical
to the Units sold in our initial public offering except with respect to certain registration rights and transfer restrictions. Additionally,
the holders of the Private Units have agreed to certain restrictions on the Private Units, as described in the Registration Statements.
Additionally, such holders agreed not to transfer, assign or sell any of the Private Units or underlying securities (except in limited
circumstances, as described in the Registration Statements) until 30 days after the completion of the Company’s initial business
combination. The holders were granted certain demand and piggyback registration rights in connection with the purchase of the Private
Units. The issuance of the Private Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities
Act of 1933, as amended.

On December 13, 2024, the
underwriters partially exercised the over-allotment option to purchase an additional 2,000,000 Units.

As of December 16, 2024, a total of $231,150,000,
comprised of $230,000,000 of the proceeds from our initial public offering (which amount includes $8,050,000 of the underwriters’
deferred discount) and $8,050,000 of the proceeds from the sale of the Private Units, was placed in a U.S.-based trust account maintained
by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds held in the
trust account that may be released to the Company to pay its taxes, the funds held in the trust account will not be released from the
trust account until the earliest of (i) the completion of the Company’s initial business combination, (ii) the redemption of any
Class A Ordinary Shares included in the Units sold in our initial public offering (“public shares”) properly submitted in
connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association to modify
the substance or timing of the Company’s obligation to redeem 100% of the public shares if the Company does not complete its initial
business combination within 18 months from the closing of the initial public offering, subject to certain conditions as described in the
Company’s amended and restated memorandum and articles of association, or with respect to any other material provisions relating
to shareholders’ rights or pre-initial business combination activity and (iii)