Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 237

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 237
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 significant competition
for business combination opportunities, it may be more difficult for us to complete our initial business combination. If we have not
completed our initial business combination within the required time period, our public shareholders may receive only approximately $10.05
per share, or less in certain circumstances, on our redemption of their shares, and our rights will expire worthless.

●If the net proceeds of the initial public offering and the
sale of the private units 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 of cash 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.

●Past performance by our management team and their affiliates,
including investments and transactions in which they have participated and businesses with which they have been associated, may not be
indicative of future performance of an investment in the company.

●We may be a passive foreign investment company, or “PFIC,”
which could result in adverse United States federal income tax consequences to U.S. investors.

●We may reincorporate in or transfer by way of continuation
to another jurisdiction which may result in taxes imposed on shareholders or right holders.

●The 1% US federal excise tax on stock buybacks could be imposed
on redemptions of our stock if we were to become a “covered corporation” in the future.

●In recent years, the number of special purpose acquisition
companies that have been formed has increased substantially, potentially resulting in 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.

●Our initial business combination and our structure thereafter
may not be tax-efficient to our shareholders and right holders. As a result of our business combination, our tax obligations may
be more complex, burdensome and uncertain.

Risks Relating to Our Search for, and Consummation of or Inability
to Consummate, a Business Combination

Our shareholders may not be afforded an opportunity to vote on
our proposed initial business combination, and even if we hold a vote, holders of our founder shares will participate in such vote, which
means we may complete our initial business combination even though a majority of our public shareholders do not support such a combination.