Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 439

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1C
Chunk 439
---
None.

56

PART II

Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities.

Market Information.

Our units, Class A Ordinary Shares and rights are traded on The New
York Stock Exchange under the symbols “MLACU,” “MLAC” and “MLACR,” respectively. Our units commenced
public trading on December 16, 2024, and our Class A Ordinary Shares and rights commenced public trading on February 3, 2025.

Holders

As of March 1, 2025, there was one holder of record
of our Units, one holder of record of our Class A Ordinary Shares, three holders of record of our Class B common shares and one holders
of record of our rights.

Dividends

We have not paid any cash dividends on our common
shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash
dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition
subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination
will be within the discretion of our Board of Directors at such time. In addition, our Board of Directors is not currently contemplating
and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness in connection with
our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection
therewith.

Securities Authorized for Issuance Under Equity Compensation Plans

None.

Recent Sales of Unregistered Securities; Use of Proceeds from Registered
Securities

On December 16, 2024, our sponsor surrendered 359,375
founder shares for no consideration, as a result of the underwriters’ partial exercise of their over-allotment option in our initial
public offering, resulting in 7,187,500 founder shares outstanding. The number of founder shares issued was determined based on the expectation
that the founder shares would represent 23.8% of the outstanding common shares upon completion of our initial public offering. Such securities
were issued in connection with our organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities
Act. Our sponsor is an accredited investor for purposes of Rule 501 of Regulation D.

On December 16,