Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 6

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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    Prepaid expenses paid by Sponsor for issuance of Class B ordinary shares 
    $—  
    $25,000 
  
    Deferred offering costs paid through promissory note – related party 
    $—  
    $165,361 

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

 4

MOUNTAIN LAKE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

NOTE 1 — DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS

Mountain Lake Acquisition Corp. (the “Company”)
is a blank check company incorporated as a Cayman Islands exempted company on June 14, 2024. The Company was incorporated for the
purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with
one or more businesses that the Company has not yet identified (“Business Combination”). The Company may pursue an acquisition
opportunity in any industry or geographic location.

As of September 30, 2025, the Company has not
commenced any operations. All activity for the period from June 14, 2024 (inception) through September 30, 2025, relates to the Company’s
formation and the initial public offering (“Initial Public Offering”), which is described below, and subsequent to the Initial
Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenues until
after the completion of a Business Combination, at the earliest. The Company generates non-operating income in the form of interest income
from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.

The registration statement for the Company’s
Initial Public Offering was declared effective on December 12, 2024. On December 16, 2024, the Company consummated the Initial Public
Offering of 23,000,000 units (the “Units” and, with respect to the shares of Class A ordinary shares included in the Units
sold, the “Public Shares”), which includes the partial exercise by the underwriters of their over-allotment option in the
amount of 2,000,000 Units, at $10.00 per Unit, generating gross proceeds of $230,000,000, which is described in Note 3. Simultaneously
with