Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 2

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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    $(25,805) 
    $6,348,172  
    $(44,758)

    Weighted average shares outstanding, Class A ordinary shares 
     23,805,000  
     —  
     23,805,000  
     — 
  
    Basic and diluted net income (loss) per share, Class A ordinary shares 
    $0.07  
    $—  
    $0.20  
    $— 
  
    Weighted average shares outstanding, Class B ordinary shares(1) 
     7,187,500  
     6,250,000  
     7,187,500  
     6,250,000 
  
    Basic and diluted net income (loss) per share, Class B ordinary shares 
    $0.07  
    $(0.00) 
    $0.20  
    $(0.01)

  (1) Excluded up to 984,375 shares subject to forfeiture for the period
from June 14, 2024 (inception) through September 30, 2024, if the over-allotment option was not exercised in full or in part by the underwriters.
On December 16, 2024, the underwriters partially exercised their over-allotment option as part of the closing of the Initial Public Offering
and forfeited their option to exercise the remaining over-allotment option. As such, 359,375 Founder Shares were forfeited (Note 5). 

The accompanying notes are an integral part of
the unaudited condensed financial statements.

 2

MOUNTAIN LAKE ACQUISITION CORP.

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’
DEFICIT

(UNAUDITED)

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER
30, 2025

    Class A Ordinary Shares  
    Class B Ordinary Shares  
    Additional Paid-in  
    Accumulated  
    Total Shareholders’ 

    Shares  
    Amount  
    Shares  
    Amount  
    Capital  
    Deficit  
    Deficit 
  
    Balance — January 1, 2025 
     805,000  
    $81  
     7,187,500  
    $719  
    $—  
    $(6,480,797)