Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 169

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part II, Item 1A
Chunk 169
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 salable until after the completion of a Business Combination, subject to certain limited exceptions.

On December 13, 2024, the underwriters exercised
the over-allotment option partially to purchase an additional 2,000,000 Units. On December 16, 2024, the Company consummated the IPO
of 23,000,000 units (the “Units”). Each Unit consists of one Class A ordinary share, $0.0001 par value (“Class A Ordinary
Share”) and one right to receive one-tenth (1/10) of one Class A Ordinary Share upon the consummation of an initial business combination.
The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $230,000,000. A total of $231,150,000 of the
net proceeds from the IPO (including the over-allotment Units) and the Private Placement (as defined below) were deposited in a trust
account established for the benefit of the Company’s public shareholders.

We paid a total of $4,600,000 in underwriting
discounts and commissions and $704,261 for other costs and expenses related to the Initial Public Offering. In addition, the underwriters
agreed to defer $8,050,000 in underwriting discounts and commissions.

For a description of the use of the proceeds
generated in our Initial Public Offering, see Part I, Item 2 of this Form 10-Q.

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

None

Item 5. Other Information

None

 21

Item 6. Exhibits

The following exhibits are filed as part of,
or incorporated by reference into, this Quarterly Report on Form 10-Q.

    No.
     
    Description of Exhibit
  
    2.1+†
     
    Business Combination Agreement, dated as of October 1, 2025, by and among SPAC, Pubco, SPAC Merger Sub, Company Merger Sub, the Company and the Seller (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K of Mountain Lake Acquisition Corp. filed with the SEC on October 7, 2025).
  
    10.1†
     
    Sponsor Support Agreement, dated as of October 1, 2025, by and among Sponsor, SPAC and Pubco (incorporated by