Company: MLAC
Filing Date: 2025-10-07
Form Type: 8-K
Source: 0001213900-25-097093
Chunk: 2

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 8-K
Item: Item 1.01
Chunk 2
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 are achieved by Pubco during the Earnout Period.

The Seller Earnout Shares
shall vest, no longer be subject to the Seller Transfer and shall be released from the escrow account to the Seller, in the amounts specified
below, upon Pubco meeting the price milestones specified below:

  (i)      on the last day of any twenty (20) consecutive trading day period after the Closing Date in which the volume weighted average price (“ VWAP ”) of the Pubco Class A Stock is greater than or equa...  

  (ii)      on the last day of any twenty (20) consecutive trading day period after the Closing date in which the VWAP of the Pubco Class A Stock is greater than or equal to $15.00 per share (“ Triggering ...  

  (iii)      on the last day of any twenty (20) consecutive trading day period after the Closing date in which the VWAP of the Pubco Class A Stock is greater than or equal to $17.00 per share (“ Triggering ...  

Each Triggering Event shall
only occur once, if at all, and all Seller Earnout Shares not released by the end of the Earnout Period will be transferred to Pubco for
no consideration, in each case as set forth in the Business Combination Agreement. If there is a change in control of Pubco during the
earnout period, all remaining Seller Earnout Shares then in escrow will be released to the Seller.

In connection with the Closing,
Pubco will issue two classes of Pubco common stock with different voting and economic rights. The Pubco Class A Stock will be entitled
to economic rights, including the right to receive distributions in proportion to the number of shares held, and will be listed for trading
on Nasdaq or another national securities exchange. The Pubco Class A Stock shall have no voting rights except (i) as required by the General
Corporation Law of the State of Delaware or (ii) on any matter that adversely affects them relative to holders of any other class of stock
of Pubco. These shares will be freely transferable subject to the terms of the Lock-Up Agreements (defined below) and any applicable legal
restrictions. The Pubco Class B Stock will be entitled to one vote per share but will not have any economic rights and will not be listed
for trading or transferable except in connection with the transfer of a share of Pubco Class A Stock to an affiliate of the Seller. The
shares of Pubco