Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 294

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 294
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 Class B Ordinary Shares;

may
subordinate the rights of holders of Class A Ordinary Shares if preference shares are issued with rights senior to those afforded
our Class A Ordinary Shares;

●may
have the effect of delaying or preventing a change of control of us by diluting the share ownership or voting rights of a person seeking
to obtain control of us;

●could
cause a change in control if a substantial number of Class A Ordinary Shares are issued, which may affect, among other things, our
ability to use our net operating loss carry forwards, if any, and could result in the resignation or removal of our present officers
and directors;

●may
adversely affect prevailing market prices for our units, Class A Ordinary Shares and/or rights; and

●may
not result in adjustment to the exercise price of our rights.

Since
our sponsor, officers and directors and any other holder of our founder shares will lose their entire investment in us if our initial
business combination is not completed (other than with respect to any public shares they may acquire), and because our sponsor, officers
and directors and any other holder of our founder shares directly or indirectly may profit substantially from a business combination
as a result of their ownership of founder shares even under circumstances where our public shareholders would experience losses in connection
with their investment, a conflict of interest may arise in determining whether a particular business combination target is appropriate
for our initial business combination, including in connection with the shareholder vote in respect thereto.

As
of the date of this Annual Report, our sponsor owns 7,546,875 founder shares and 495,000 private units. If we do not complete our initial
business combination within 18 months from the closing of the initial public offering, unless the time to complete our initial business
combination is extended in accordance with our memorandum and articles of incorporation, the private units will expire worthless. Given
the differential in the purchase price paid for the founder shares as compared to the initial public offering price of the public shares
and the substantial number of Class A Ordinary Shares that holders of our founder shares would receive upon conversion of the founder
shares upon a business combination, the founder shares may have significant value after the business combination even if our Class A
Ordinary Shares trade below the initial public offering price and holders of our public shares have a substantial loss on their investment.

The
personal and financial interests of our sponsor, directors and officers and any holders of our founder shares or our private units