Company: MLAC
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108244
Chunk: 84

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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 experience negative reactions from financial markets, including negative impacts on the
                                            price of our Class A ordinary shares, including to the extent that the current market price
                                            reflects a market assumption that the Proposed Business Combination will be completed.

During the pendency of the Business Combination
Agreement, we may not be able to enter into a business combination with another party at a favorable price because of restrictions in
the Business Combination Agreement, which could adversely affect our business.

Covenants in the Business Combination Agreement
impede our ability to make acquisitions, subject to specified exceptions relating to fiduciary duties, or complete other mergers, sales
of assets, or other business combinations pending completion of the Proposed Business Combination. As a result, if the Proposed Business
Combination is not completed, we may be at a disadvantage to our competitors during that period. In addition, while the Business Combination
Agreement is in effect, we are generally prohibited from soliciting, initiating, encouraging, or entering into specified extraordinary
transactions, such as a merger, sale of assets, or other business combination, with any third party, subject to specified exceptions,
even if any such transaction could be more favorable to our stockholders than the Proposed Business Combination. If the Proposed Business
Combination is not completed, these provisions will make it more difficult to complete an alternative business combination following
the termination of the Business Combination Agreement due to the passage of time during which these provisions have remained in effect.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.

On December 16, 2024, we consummated the Initial
Public Offering of 23,000,000 Units. The Units were sold at an offering price of $10.00 per unit, generating total gross proceeds of
$230,000,000. The securities in the offering were registered under the Securities Act on registration statement on Form S-1 (No.333-281410).
The Securities and Exchange Commission declared the registration statements effective on December 12, 2024.

Simultaneously with the consummation of the Initial
Public Offering, the Sponsor consummated the private placement of an aggregate of 805,000 Units at a price of $10.00 per Private Placement
Unit with our Sponsor, and BTIG, as representative of the underwriters, generating total proceeds of $8,050,000. Each Unit consists of
one Class A ordinary share and one right to receive one-tenth (1/10) of one