Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 71

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 to the Business Combination. Holders of Class A ordinary shares and
holders of Class B ordinary shares will vote together as a single class on all other matters submitted to a vote of the Company’s
shareholders except as otherwise required by law. Ordinary shareholders of record are entitled to one vote for each share held on all
matters to be voted on by shareholders. Holders of Class A ordinary shares and holders of Class B ordinary shares will vote
together as a single class on all matters submitted to a vote of the shareholders except as required by law.

The Class B ordinary shares will automatically
convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination
on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations and the
like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares or equity-linked
securities are issued or deemed issued in connection with the initial Business Combination, the number of Class A ordinary shares
issuable upon conversion of all Founder Shares will equal, in the aggregate, 23.2% of the total number of Class A ordinary shares
outstanding after such conversion (after giving effect to any redemptions of Class A ordinary shares by Public Shareholders and
not including the Class A ordinary shares underlying the Private Placement Units), including the total number of Class A ordinary
shares issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued,
by the Company in connection with or in relation to the consummation of the initial Business Combination, excluding any Class A
ordinary shares or equity-linked securities or rights exercisable for or convertible into Class A ordinary shares issued, or to
be issued, to any seller in the initial Business Combination and any Private Placement Units issued to the Sponsor, officers or directors
upon conversion of Working Capital Loans, provided that such conversion of Founder Shares will never occur on a less than one-for-one
basis.

Rights

Except in cases where the Company is not the
surviving company in a Business Combination, each holder of a right will automatically receive one-tenth (1/10) of one ordinary share
upon consummation of the initial Business Combination. The Company will not issue fractional shares in connection with an exchange of
rights. Fractional shares will either be rounded down to the nearest whole