Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 127

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 127
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two-thirds of our ordinary shares which are represented in person or by proxy and are voted at
a general meeting of the company, which is a lower amendment threshold than that of some other special purpose acquisition companies.
It may be easier for us, therefore, to amend our amended and restated memorandum and articles of association to facilitate the completion
of an initial business combination that some of our shareholders may not support.

Our amended and restated memorandum and articles
of association provides that any of its provisions related to pre-business combination activity (including the requirement to deposit
proceeds of the initial public offering and the private placement into the trust account and not release such amounts except in specified
circumstances, and to provide redemption rights to public shareholders as described herein) and corresponding provisions of the trust
agreement governing the release of funds from our trust account may be amended if approved by special resolution, under Cayman Islands
law passed by the affirmative vote of at least two-thirds of our ordinary shares which are represented in person or represented by
proxy and are voted at a general meeting of the company. Our initial shareholders, who collectively beneficially own 23.2% of our ordinary
shares after the closing of the initial public offering, will participate in any vote to amend our amended and restated memorandum and
articles of association and/or trust agreement and will have the discretion to vote in any manner they choose. As a result, we may be
able to amend the provisions of our amended and restated memorandum and articles of association which govern our pre-business combination
behavior more easily than some other special purpose acquisition companies, and this may increase our ability to complete a business combination
with which you do not agree. Our shareholders may pursue remedies against us for any breach of our amended and restated memorandum and
articles of association.

Our
sponsor, officers and directors have agreed, pursuant to a written agreement with us, that they will not propose any amendment to our
amended and restated memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption
in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business
combination within the completion window or (B) with respect to any other material provisions relating to shareholders’ rights
or pre-initial business combination activity, unless we provide our public shareholders with the opportunity to redeem their Class A
Ordinary Shares upon approval of any such amendment at a per