Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 239

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 239
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 company. Accordingly, if we
seek shareholder approval of our initial business combination, the agreement by our initial shareholders and management team to vote in
favor of our initial business combination will increase the likelihood that we will receive the requisite shareholder approval for such
initial business combination.

Your only opportunity to effect your investment decision regarding
a potential business combination may be limited to the exercise of your right to redeem your shares from us for cash.

At the time of your investment in us, you will not be provided with
an opportunity to evaluate the specific merits or risks of our initial business combination. Since our board of directors may complete
a business combination without seeking shareholder approval, public shareholders may not have the right or opportunity to vote on the
business combination, unless we seek such shareholder vote. Accordingly, your only opportunity to effect your investment decision regarding
our initial business combination may be limited to exercising your redemption rights within the period of time (which will be at least
20 business days) set forth in our tender offer documents mailed to our public shareholders in which we describe our initial business
combination. The amount of the deferred underwriting commissions payable to the underwriters is not currently required to be adjusted
for any shares that are redeemed in connection with an initial business combination. The per share amount we will distribute to shareholders
who properly exercise their redemption rights will not be reduced by the deferred underwriting commission and after such redemptions,
the per-share value of shares held by non-redeeming shareholders will reflect our obligation to pay the deferred underwriting
commission.

The ability of our public shareholders to redeem their shares
for cash may make our financial condition unattractive to potential business combination targets, which may make it difficult for us to
enter into a business combination with a target.

We may seek to enter into a business combination
transaction agreement with minimum cash requirement for (i) cash consideration to be paid to the target or its owners, (ii) cash
for working capital or other general corporate purposes or (iii) the retention of cash to satisfy other conditions. If too many public
shareholders exercise their redemption rights, we would not be able to meet such closing condition and, as a result, would not be able
to proceed with the business combination.

Consequently, if accepting all properly submitted
redemption requests would not allow us to satisfy a closing condition as described above, we would not proceed with such redemption and
the related business combination and may instead search for an alternate business combination. Pros