Company: MLAC
Filing Date: 2025-10-07
Form Type: 8-K
Source: 0001213900-25-097093
Chunk: 9

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 8-K
Item: Item 1.01
Chunk 9
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reements

Concurrently with the Closing,
the SPAC, the Sponsor and the SPAC insiders will enter into a Lock-Up Agreement with Pubco (the “Sponsor Lock-Up Agreement”),
and certain holders of shares of Pubco Stock will also enter into a Lock-Up Agreement with Pubco in substantially the same form as the
Sponsor Lock-Up Agreement (the “Seller Lock-Up Agreement,” collectively with the Sponsor Lock-Up Agreement, the “Lock
Up Agreements”), pursuant to which such parties agree that the shares of Pubco Class A Stock received by them in connection
with the Business Combination, and any other securities convertible into or exercisable or exchangeable for Pubco Stock, will be subject
to transfer restrictions, as described below, with certain customary exceptions.

Under the Lock-Up Agreements,
the Restricted Securities (as defined therein) will be subject to transfer restrictions until the earlier of (i) 180 days following the
date of the Closing (the “ Anniversary Release”); provided, that if the VWAP of Pubco Class A Stock equals or exceeds
$12.50 per share for any 20 consecutive trading days following the Closing, the Anniversary Release will be deemed to occur at 11:59 p. m.
New York City time on such 20th consecutive trading day, and (ii) the date on which Pubco consummates a liquidation, merger, capital stock
exchange, reorganization or other similar transaction that results in all Pubco shareholders having the right to exchange their shares
of Pubco Stock for cash, securities or other property (the “Lock-Up Period”). The Lock-Up Agreements include customary
exceptions to the transfer restrictions, including transfers to affiliates, family members, charitable organizations and in connection
with certain tax or estate planning transactions, provided that the transferee agrees to be bound by the same restrictions for the remainder
of the Lock-Up Period. Any transfer in violation of the Lock-Up Agreements will be null and void, and Pubco is authorized to impose stop-transfer
instructions with respect to any such Restricted Securities during the Lock-Up Period.

The form of Lock-Up Agreements
are filed as Exhibit 10.2 and Exhibit 10.3 to this Current Report on Form 8-K, and the foregoing description thereof does not purport
to be complete and is qualified in its entirety by reference to the full text of the form of Lock-Up Agreements and the terms of which
are incorporated by reference herein.

Amended and Restated Registration Rights
Ag