Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 267

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 267
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for distribution to public shareholders, and our rights will expire worthless. In addition, even if we do not need additional financing
to complete our initial business combination, we may require such financing to fund the operations or growth of the target business.
The failure to secure additional financing could have a material adverse effect on the continued development or growth of the target
business. None of our officers, directors or shareholders is required to provide any financing to us in connection with or after our
initial business combination.

Our
initial shareholders control a substantial interest in us and thus may exert a substantial influence on actions requiring a shareholder
vote, potentially in a manner that you do not support.

Our
initial shareholders own 23.2% of our issued and outstanding ordinary shares. Accordingly, they may exert a substantial influence on
actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments to our amended and restated
memorandum and articles of association. In addition, prior to the closing of our initial business combination, only holders of our founder
shares will have the right to vote to continue the company in a jurisdiction outside the Cayman Islands. This provision of our amended
and restated memorandum and articles of association may only be amended by a special resolution passed by not less than 90% of our ordinary
shares which are represented in person or by proxy and are voted at our general meeting. As a result, you will not have any influence
over our continuation in a jurisdiction outside the Cayman Islands prior to our initial business combination. Neither our initial shareholders
nor, any of our officers or directors, have committed to purchase additional securities, although certain members of our management team
have indicated that they may consider doing so.

Factors
that would be considered in making such additional purchases would include consideration of the current trading price of our Class A
Ordinary Shares. In addition, our board of directors, whose members were appointed by our sponsor, is and will be divided into three
classes, each of which will generally serve for a term for three years with only one class of directors being appointed in each
year. We may not hold an annual or extraordinary general meeting to appoint new directors prior to the completion of our initial business
combination, in which case all of the current directors will continue in office until at least the completion of the business combination.
If there is an annual general meeting, as a consequence of our “staggered” board of directors, only a minority of the board
of directors will