Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 159

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 159
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Our
units include 23,000,000 rights which convert on a 10-to-1 basis upon the consummation of our initial business combination. As such,
upon the consummation of our initial business combination the rights will convert into 2,300,000 Class A Ordinary Shares. In addition,
our initial shareholders, officers and directors or their affiliates may, but are not obligated to, make certain loans to us, up to $1,500,000
of which may be converted upon consummation of our initial business combination into additional private units at a price of $10.00 per
unit (which, for example, would result in the holders being issued private rights entitling the holder to an aggregate of 15,000 Class
A Ordinary Shares upon the consummation of our initial business combination). To the extent we issue Class A Ordinary Shares to effectuate
a business transaction, the potential for the issuance of a substantial number of additional Class A Ordinary Shares upon conversion
of our rights could make us a less attractive acquisition vehicle to a target business. Any such issuance will increase the number of
issued and outstanding Class A Ordinary Shares and reduce the value of the Class A Ordinary Shares issued to complete the business
transaction. Therefore, our rights may make it more difficult to effectuate a business combination or increase the cost of acquiring
the target business.

Our
rights agreement designates the courts of the State of New York or the United States District Court for the Southern District
of New York as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our
rights, which could limit the ability of right holders to obtain a favorable judicial forum for disputes with our company.

Our
rights agreement provides that, subject to applicable law, (i) any action, proceeding or claim against us arising out of or relating
in any way to the rights agreement, including under the Securities Act, will be brought and enforced in the courts of the State of New York
or the United States District Court for the Southern District of New York, and (ii) that we irrevocably submit to such
jurisdiction, which jurisdiction shall be the exclusive forum for any such action, proceeding or claim. We will waive any objection to
such exclusive jurisdiction and that such courts represent an inconvenient forum. With respect to any complaint asserting a cause of
action arising under the Securities Act or the rules and