Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 151

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 151
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 financial incentives may cause them to have potential conflicts of interest in rendering any such
additional services to us after the initial public offering, including, for example, in connection with the sourcing and consummation
of an initial business combination.

We
may engage one or more of our underwriters or one of their respective affiliates to provide additional services to us, including, for
example, identifying potential targets, providing financial advisory services, acting as a placement agent in a private offering or arranging
debt financing. We may pay such underwriter or its affiliate fair and reasonable fees or other compensation that would be determined
at that time in an arm’s length negotiation. The underwriters are also entitled to receive deferred commissions that are conditioned
on the completion of an initial business combination. The underwriters’ or their respective affiliates’ financial interests
tied to the consummation of a business combination transaction may give rise to potential conflicts of interest in providing any such
additional services to us, including potential conflicts of interest in connection with the sourcing and consummation of an initial business
combination.

Since
our sponsor, executive officers and directors will lose their entire investment in us if our initial business combination is not completed
(other than with respect to public shares they may acquire during or after the initial public offering), a conflict of interest may arise
in determining whether a particular business combination target is appropriate for our initial business combination.

On
June 27, 2024, our sponsor paid $25,000, or approximately $0.003 per share, to cover certain expenses on our behalf in consideration
of 7,187,500 Class B Ordinary Shares, which we refer to as founder shares. Subsequently, on December 12, 2024, the Company, through a
share capitalization, approved the issuance to the sponsor an additional 359,375 Class B Ordinary Shares as bonus shares. On December
16, 2024, our sponsor surrendered 359,375 founder shares for no consideration, as a result of the underwriters’ partial exercise
of their over-allotment option in our initial public offering, resulting in 7,187,500 founder shares outstanding, resulting in a price
per share of approximately $0.003. Prior to the initial investment in the company of $25,000 by the sponsor, the company had no assets,
tangible or intangible. The purchase price of the founder shares was determined by dividing the amount of cash contributed to the company
by the number of founder shares issued