Company: MLAC
Filing Date: 2025-10-07
Form Type: 8-K
Source: 0001213900-25-097093
Chunk: 5

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 8-K
Item: Item 1.01
Chunk 5
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consummate (or cause to be consummated) the Transactions are also subject to, among other things (i) the representations and warranties
of the Company, Pubco, Pubco Subsidiaries and the Seller being true and correct, subject to the applicable materiality standards contained
in the Business Combination Agreement, (ii) material compliance by the Company, Pubco, Pubco Subsidiaries and the Seller with their respective
pre-closing covenants, (iii) no occurrence of a Material Adverse Effect with respect to the Company or Pubco, and (iv) completion of the
Foundation Transaction and the Dragonfly Contribution in accordance with the Token Sale Agreement and the Contribution Agreement.

The obligations of the Company,
Pubco, the Pubco Subsidiaries and the Seller to consummate (and cause to be consummated) the Transactions are also subject to, among other
things: (i) the representations and warranties of SPAC being true and correct, subject to the applicable materiality standards contained
in the Business Combination Agreement, (ii) material compliance by SPAC with their applicable pre-closing covenants, (iii) no occurrence
of a Material Adverse Effect with respect to SPAC since the date of the Business Combination Agreement which is continuing and uncured,
and (iv) the Sponsor having performed in all material respects its obligations required under the Sponsor Support Agreement (as defined
below).

Termination

The Business Combination Agreement
contains certain termination rights, including, among others and subject to certain conditions and limitations, the following: (i) upon
the mutual written consent of SPAC and the Seller, (ii) by either SPAC or the Seller, if the conditions to closing set forth therein have
not occurred or been waived by the one-year anniversary of the Business Combination Agreement (the “Outside Date”),
(iii) by either SPAC or the Seller if a governmental authority issues a final, non-appealable order permanently enjoining or prohibiting
the Transactions, (iv) by either SPAC or the Seller, as a result of material breach by or non-performance of the other party and such
breach or non-performance gives rise to a failure of a condition precedent and cannot or has not been cured within the earlier of (a)
20 days after written notice of such breach is provided to SPAC by the Seller and (b) five business days prior to the Outside Date, (v)
by the Seller if, prior to SPAC obtaining the