Company: MLAC
Filing Date: 2025-10-02
Form Type: 8-K
Source: 0001213900-25-094940
Chunk: 1

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-02
Form: 8-K
Item: Item 7.01
Chunk 1
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 have entered into
a contribution agreement (the “ Contribution Agreement”), pursuant to which, on the date hereof: (a) the Foundation sold 7,317,965.61
Avax to Newco, all upon the terms and subject to the conditions set forth in that certain Token Sale Agreement by and between Newco, Pubco
and the Foundation dated as of the date hereof; and (b) Seller contributed directly and/or indirectly through Dragonfly Ventures L. P.,
Dragonfly Ventures II, L. P., and other Seller controlled vehicles 1,960,040 Avax to the Company, all upon the terms and subject to the
conditions set forth therein.

Contemporaneously with the
execution of the Business Combination Agreement, certain investors (the “ LLC Equity PIPE Investors”) have agreed to make a
private investment in Newco by purchasing Newco Units (the “ Newco Units”) payable in cash (in the aggregate of approximately
$119 million), unlocked AVAX (in the aggerated of approximately $116 million) or locked AVAX (in the aggregate of approximately $69 million)
(the “ Private Placement”, and together with the Business Combination, the “ Proposed Transactions”), pursuant to
subscription agreements entered into with Mountain Lake, Pubco and Newco. The number of Newco Units to be issued in exchange for AVAX
will equal the volume-weighted average price (calculated by dividing the sum of the products of each trade’s price and volume by
the total volume of all trades during the specified period) of AVAX denominated in USD as calculated from all executed trades on Binance
Holdings Ltd (or its successor primary spot exchange) over the five-day period ending at 8:00 p. m. New York City time on September 29,
2025 (the “ Signing AVAX Price”), multiplied by the number of AVAX contributed by such investor, and then divided by $10.00.

Simultaneously with the execution
of the BCA, Pubco, Mountain Lake and Mountain Lake Acquisition Sponsor LLC, a Delaware limited liability company (the “ Sponsor”),
also entered into a Sponsor Support Agreement pursuant to which the Sponsor, among other things, agreed to vote its Class A ordinary shares
and Class B ordinary shares in favor of the adoption and approval of the Business Combination Agreement and the transactions contemplated
thereby.

Attached as Exhibit 99.2 and
incorporated into this Item 7.01 by reference herein is the investor presentation for the