Company: MLAC
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073711
Chunk: 62

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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, 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 share or otherwise addressed in accordance with the applicable
provisions of Cayman law. In the event the Company is not the surviving company upon completion of the initial Business Combination,
each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-tenth (1/10) of one
ordinary share underlying each right upon consummation of the Business Combination. If the Company is unable to complete the initial
Business Combination within the required time period and the Company will redeem the public shares for the funds held in the Trust Account,
holders of rights will not receive any of such funds for their rights and the rights will expire worthless.

NOTE 8 — FAIR VALUE MEASUREMENTS

At June 30, 2025, assets held in the Trust Account