Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 611

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 3
Chunk 611
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 Business Combination without the prior consent of
the Sponsor.

Notwithstanding the foregoing, the Company’s
Amended and Restated Memorandum and Articles of Association provides that a Public Shareholder, together with any affiliate of such shareholder
or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its
shares with respect to more than an aggregate of 15% or more of the Class A ordinary shares sold in the Initial Public Offering,
without the prior consent of the Company.

The Sponsor, executive officers, and
directors have agreed, pursuant to a letter agreement, that they will not propose any amendment to the Amended and Restated Memorandum
and Articles of Association (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the Public
Shares if the Company does not complete the initial Business Combination within the Combination Period or (B) with respect to any
other material provisions relating to shareholders’ rights or pre-initial business combination activity, unless the Company provides
the Public Shareholders with the opportunity to redeem their Class A ordinary shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held
in the Trust Account (which interest shall be net of taxes payable), divided by the number of then outstanding Public Shares.

If the Company is unable to complete a Business
Combination within 18 months from the closing of the Initial Public Offering or during any extended time that the Company has to consummate
a Business Combination beyond 18 months as a result of a shareholder vote to amend the Amended and Restated Memorandum and Articles of
Association (the “Combination Period”), the Company will, but not more than ten business days thereafter, redeem the
Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned on the funds held in the Trust Account (which interest shall be net of taxes payable and up to $100,000 of interest to pay dissolution
expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish Public Shareholders’
rights as shareholders (including the right to receive further liquidating distributions,