Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 26

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 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 September 30, 2025, assets held in the Trust
Account were comprised of $883 in cash and $238,901,692 in U.S. Treasury securities. During the nine months ended September 30, 2025,
the Company did not withdraw any interest income from the Trust Account.

            Gross             Amortized   Holding          Held To Maturity  Cost   Gain   Fair Value   September 30, 2025  U.S. Treasury Securities (Matured on October 7, 2025)  $238,901,692   $30,231   $238,931,923  

At December 31, 2024, assets held in the Trust
Account were comprised of $593 in cash and $231,643,260 in U.S. Treasury securities. During the period from June 14, 2014 (inception)
through December 31, 2024, the Company did not withdraw any interest income from the Trust Account.

            Gross             Amortized   Holding          Held To Maturity  Cost   Loss   Fair Value   December 31, 2024  U.S. Treasury Securities