Company: MLAC
Filing Date: 2025-10-07
Form Type: 425
Source: 0001213900-25-097100
Chunk: 5

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 425
Chunk 5
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 its subsidiaries to consummate the Transactions, in each case subject to certain customary exceptions. Certain of the representations
are subject to specified exceptions and qualifications contained in the Business Combination Agreement or in information provided pursuant
to certain disclosure schedules to the Business Combination Agreement.

Covenants

The Business Combination Agreement
contains pre-closing covenants of the parties, including obligations of the parties to operate their respective businesses in the ordinary
course consistent with past practice, and to refrain from taking certain specified actions without the prior written consent of certain
other parties, in each case, subject to certain exceptions and qualifications. Additionally, the parties have agreed not to solicit, negotiate
or enter into competing transactions, as further provided in the Business Combination Agreement. The covenants do not survive the Closing
(other than those that are to be performed after the Closing).

The Business Combination Agreement
also contains obligations of certain of the parties to use their reasonable best efforts to consummate the Transactions contemplated by
the Business Combination Agreement. This includes certain obligations of SPAC, Pubco and the Company to use reasonable best efforts to
take all actions and do all things necessary, proper or advisable to consummate the transactions contemplated by the Company Unit Subscription
Agreements (as defined below), on the terms and conditions described therein.

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Additionally, the Company
shall purchase a number of AVAX equal to the gross cash proceeds from the Company Unit Subscription (as defined below) minus any and all
reasonable and customary fees, commissions, or other charges (including network gas fees and exchange trading fees) incurred by the Company
or its designated agent in connection with the purchase of AVAX on an arms’ length basis through a recognized digital asset exchange
or broker, which shall be placed into a digital wallet held or operated by or on behalf of the Company.

SPAC and Pubco agreed, with
the cooperation of the Company, as promptly as practicable after the execution of the Business Combination Agreement and after completion
of the Company’s audited financial statements, to prepare and file with the U.S. Securities and Exchange Commission (the “SEC”),
a registration statement on Form S-4 (as amended or supplemented from time to time, the “Registration Statement”) in
connection with the registration under the Securities Act of 1933, as amended (the “Securities Act”) of the issuance
of the Pubco Class A Stock to SPAC shareholders and certain Company securityholders, and containing a proxy statement/prospectus for