Company: MLAC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042737
Chunk: 102

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 102
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million of such Working Capital Loans may be converted into units
of the post Business Combination entity at a price of $10.00 per Unit. The units would be identical to the Private Placement Units.

We do not believe we will
need to raise additional funds in order to meet the expenditures required for operating our business. However, if our estimate of the
costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual
amount necessary to do so, we may have insufficient funds available to operate our business prior to our initial Business Combination.
Moreover, we may need to obtain additional financing either to complete our Business Combination or because we become obligated to redeem
a significant number of our public shares upon completion of our Business Combination, in which case we may issue additional securities
or incur debt in connection with such Business Combination.

Off-Balance Sheet Financing Arrangements

We have no obligations, assets
or liabilities, which would be considered off-balance sheet arrangements as of March 31, 2025. We do not participate in transactions that
create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would
have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing
arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial
assets.

Contractual Obligations

We do not have any long-term
debt, capital lease obligations, operating lease obligations or long-term liabilities, other than an agreement to pay the Chairman and
Chief Executive Officer and the President and Chief Financial Officer, a total of up to $20,000 per month for their services as executive
officers and directors of the Company. For the three months ended March 31, 2025, the Company incurred an expense of $60,000 of fees for
these services.

The underwriters are entitled
to a deferred underwriting fee of $0.35 per Unit, or $8,050,000 in the aggregate. The deferred fee will become payable to the underwriters
from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination, subject to the terms
of the underwriting agreement.

Critical Accounting Estimates

The preparation of condensed
financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions that