Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 28

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 28
---
 Account 
    $2,527,476  
    $—  
    $7,258,722  
    $— 

The CODM reviews interest earned on marketable
securities held in Trust Account to measure and monitor shareholder value and determine the most effective strategy of investment with
the Trust Account funds while maintaining compliance with the trust agreement. General and administrative expenses are reviewed and monitored
by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination
period. The CODM also reviews general and administrative expenses to manage, maintain and enforce all contractual agreements to ensure
costs are aligned with all agreements and budget.

General and administrative expenses, as reported
on the condensed statements of operations, are the significant segment expenses provided to the CODM on a regular basis.

 14

MOUNTAIN LAKE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

NOTE 10 — SUBSEQUENT
EVENTS 

The
Company evaluated subsequent events and transactions that occurred after the condensed balance sheet date up to the date that the condensed
financial statements were issued. Based upon this review, other than disclosed below, the Company did not identify any subsequent events
that would have required adjustment or disclosure in the condensed financial statements.

Business Combination Agreement

On October 1, 2025, the Company entered into
a Business Combination Agreement (the “Business Combination Agreement”) with Avalanche Treasury Corporation, a Delaware corporation
(“Pubco”), Avalanche SPAC Merger Sub LLC, a Delaware limited liability company, Avalanche Company Merger Sub LLC, a Delaware
limited liability company, Avalanche Treasury Company LLC, a Delaware limited liability company (the “AT Company”), and Dragonfly
Digital Management, LLC, a Delaware limited liability company (the “Seller”). The transactions contemplated by the Business
Combination Agreement are referred to as the “Proposed Business Combination.” Concurrently with the execution of the Business
Combination Agreement, the Company entered into a Sponsor Support Agreement with the Sponsor and Pubco (the “Sponsor Support Agreement”).
In addition, the Sponsor agreed pursuant to the Sponsor Support Agreement to effect certain security cancellations and to deposit certain
Pubco Class A Stock issued to it at the closing of the Proposed Business Combination (the “Closing”) into escrow in connection
with the Closing. 

Concurrently with the execution of the