Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 136

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 136
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 the reduction was due to the
breach by our officers or directors of a duty of care or other fiduciary duty owed to them, or if they are able to successfully bring
a private claim under securities laws that the proxy materials or tender offer documents, as applicable, relating to the business combination
contained an actionable material misstatement or material omission.

37

The
nominal purchase price paid by our sponsor for the founder shares may result in significant dilution to the implied value of your public
shares upon the consummation of our initial business combination.

We offered our units at an offering price of $10.00 per unit and
the amount in our trust account is $10.05 per public share, implying an initial value of $10.05 per public share. However, prior to the
initial public offering, our sponsor paid a nominal aggregate purchase price of $25,000 for the founder shares, or approximately $0.003
per share. As a result, the value of your public shares may be significantly diluted upon the consummation of our initial business combination,
when the founder shares are converted into public shares. For example, the following table shows the dilutive effect of the founder shares
on the implied value of the public shares upon the consummation of our initial business combination assuming that our equity value at
that time is $223,100,000 (following payment of $8,050,000 of deferred underwriting commissions), which is the amount we would have for
our initial business combination in the trust account, no interest is earned on the funds held in the trust account, and no public shares
are redeemed in connection with our initial business combination, and without taking into account any other potential impacts on our valuation
at such time, such as the trading price of our public shares, the business combination transaction costs, any equity issued or cash paid
to the target’s sellers or other third parties, or the target’s business itself, including its assets, liabilities, management
and prospects, as well as the value of our public and private rights. At such valuation, each of our ordinary shares would have an implied
value of $7.20 per share upon consummation of our initial business combination, which is a 25.8% decrease as compared to the initial implied
value per public share (after taking into consideration the payment of the deferred underwriting commission) of $9.70.

    Public shares 
     23,000,000 
  
    Founder