Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 130

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 130
---
, including amendments to our amended and restated
memorandum and articles of association. In addition, prior to the closing of our initial business combination, only holders of our founder
shares will have the right to vote to continue the company in a jurisdiction outside the Cayman Islands. This provision of our amended
and restated memorandum and articles of association may only be amended by a special resolution passed by not less than 90% of our ordinary
shares which are represented in person or by proxy and are voted at our general meeting. As a result, you will not have any influence
over our continuation in a jurisdiction outside the Cayman Islands prior to our initial business combination. Neither our initial shareholders
nor, any of our officers or directors, have committed to purchase additional securities, although certain members of our management team
have indicated that they may consider doing so.

Factors
that would be considered in making such additional purchases would include consideration of the current trading price of our Class A
Ordinary Shares. In addition, our board of directors, whose members were appointed by our sponsor, is and will be divided into three
classes, each of which will generally serve for a term for three years with only one class of directors being appointed in each
year. We may not hold an annual or extraordinary general meeting to appoint new directors prior to the completion of our initial business
combination, in which case all of the current directors will continue in office until at least the completion of the business combination.
If there is an annual general meeting, as a consequence of our “staggered” board of directors, only a minority of the board
of directors will be considered for appointment and our initial shareholders, because of their ownership position, will have considerable
influence regarding the outcome. Accordingly, our initial shareholders will continue to exert control at least until the completion of
our initial business combination.

34

We
may not be able to complete an initial business combination since such initial business combination may be subject to regulatory review
and approval requirement, including foreign investment regulations and review by government entities such as the Committee on Foreign
Investment in the United States (“CFIUS”), or may be ultimately prohibited.

Our
initial business combination may be subject to regulatory review and approval requirements by governmental entities, or ultimately prohibited.
For example, CFIUS has authority to review direct or indirect foreign investments in U.S. companies. Among other things, CFIUS is
empowered to require certain foreign investors to make mandatory filings, to