Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 249

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 249
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 their shares for cash at the
time of our initial business combination in conjunction with a shareholder vote or via a tender offer. Target companies will be aware
that this may reduce the resources available to us for our initial business combination. Any of these obligations may place us at a competitive
disadvantage in successfully negotiating a business combination. If we are unable to complete our initial business combination, our public
shareholders may receive only their pro rata portion of the funds in the trust account that are available for distribution
to public shareholders, and our rights will expire worthless.

24

As
the number of special purpose acquisition companies evaluating targets increases, attractive targets may become scarcer and there may
be more competition for attractive targets. This could increase the cost of our initial business combination and could even result in
our inability to find a target or to consummate an initial business combination.

In
recent years, the number of special purpose acquisition companies that have been formed has increased substantially. Many potential
targets for special purpose acquisition companies have already entered into an initial business combination, and there are still many
special purpose acquisition companies preparing for an initial public offering, as well as many such companies currently in registration.
As a result, at times, fewer attractive targets may be available to consummate an initial business combination.

In
addition, because there are more special purpose acquisition companies seeking to enter into an initial business combination with available
targets, the competition for available targets with attractive fundamentals or business models may increase, which could cause targets
companies to demand improved financial terms. Attractive deals could also become scarcer for other reasons, such as economic or industry
sector downturns, geopolitical tensions, or increases in the cost of additional capital needed to close business combinations or operate
targets post-business combination. This could increase the cost of, delay or otherwise complicate or frustrate our ability to find
and consummate an initial business combination, and may result in our inability to consummate an initial business combination on terms
favorable to our investors altogether.

If
the net proceeds of the initial public offering not being held in the trust account are insufficient to allow us to operate for at least
the duration of the completion window, it could limit the amount available to fund our search for a target business or businesses and
complete our initial business combination, and we will depend on loans from our sponsor or management team to fund our search and to
complete our initial business combination.

Of
the net proceeds of the initial public offering