Company: MLAC
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073711
Chunk: 45

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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 Transfer & Trust
Company acting as trustee. The funds will be held in cash, including in demand deposit accounts at a bank, or invested only in U.S. government
treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the
Investment Company Act which invest only in direct U.S. government treasury obligations, as determined by the Company, until the earlier
of (i) the completion of a Business Combination and (ii) the distribution of the Trust Account as described below.

The Company will provide its holders of the Public
Shares (the “Public Shareholders”) with the opportunity to redeem, regardless of whether they abstain, vote for, or against,
a Business Combination, all or a portion of their Public Shares upon either (i) the completion of the initial Business Combination
or an earlier redemption in connection with the commencement of the consummation of the initial Business Combination if the Company determines
it is desirable to facilitate the completion of the initial Business Combination, (ii) the redemption of the Public Shares if the
Company is unable to complete the initial Business Combination within the Combination Period (as defined below), subject to applicable
law, or (iii) the redemption of the Public Shares properly submitted in connection with a shareholder vote to amend the Amended
and Restated Memorandum and Articles of Association (A) to modify the substance or timing of the obligation to allow redemption
in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company has not consummated an initial
Business Combination within the Combination Period or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial business combination activity.

5

MOUNTAIN LAKE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

All of the Public Shares contain a redemption
feature which allows for the redemption of such Public Shares in connection with the liquidation, if there is a shareholder vote or tender
offer in connection with the initial Business Combination and in connection with certain amendments to the Amended and Restated Memorandum
and Articles of Association (the “Amended and Restated Memorandum and Articles of Association”). The Public Shares were recorded
at redemption value and classified as temporary equity at the completion of the Initial Public Offering, in accordance with Accounting
Standards