Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 155

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 155
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, the holders of the private
units (and underlying securities may demand that we register the resale of such units and the underlying securities. We will bear the
cost of registering these securities. The registration and availability of such a significant number of securities for trading in the
public market may have an adverse effect on the market price of our Class A Ordinary Shares. In addition, the existence of the registration
rights may make our initial business combination more costly or difficult to conclude. This is because the shareholders of the target
business may increase the equity stake they seek in the combined entity or ask for more cash consideration to offset the negative impact
on the market price of our Class A Ordinary Shares that is expected when the ordinary shares owned by our initial shareholders or
their permitted transferees, our private units (and underlying securities) are registered for resale.

We
may issue additional Class A Ordinary Shares or preference shares to complete our initial business combination or under an employee
incentive plan after completion of our initial business combination. We may also issue Class A Ordinary Shares upon the conversion
of the founder shares at a ratio greater than one-to-one at the time of our initial business combination as a result of the anti-dilution provisions
contained in our amended and restated memorandum and articles of association. Any such issuances would dilute the interest of our shareholders
and likely present other risks.

Our
amended and restated memorandum and articles of association authorize the issuance of up to 445,000,000 Class A ordinary shares,
par value $0.0001 per share, 50,000,000 Class B Ordinary Shares, par value $0.0001 per share, and 5,000,000 preference shares, par
value $0.0001 per share. After the initial public offering, there are 23,805,000 and 7,187,500 authorized but unissued Class A Ordinary
Shares and Class B Ordinary Shares, respectively, available for issuance which amount does not take into account shares reserved
for issuance upon conversion of outstanding rights or shares issuable upon conversion of the Class B Ordinary Shares. The Class B
Ordinary Shares are automatically convertible into Class A Ordinary Shares concurrently with or immediately following the consummation
of our initial business combination, or earlier at the option of the holders thereof, initially at a one-for-one ratio but subject
to adjustment as set forth adjacent to the caption “Founder shares