Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 296

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 296
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 outstanding public rights.

Our
rights will be issued in registered form under a rights agreement between Continental Stock Transfer & Trust Company, as rights
agent, and us. The rights agreement provides that the terms of the rights may be amended without the consent of any holder to cure any
ambiguity or correct any defective provision, but requires the approval by the holders of at least 50% of the then outstanding public
rights to make any change that adversely affects the rights of the registered holders of public rights under the rights agreement. Accordingly,
we may amend the terms of the public rights in a manner adverse to a holder if holders of at least 50% of the then outstanding public
rights approve of such amendment.

Our
rights may have an adverse effect on the market price of our Class A Ordinary Shares and make it more difficult to effectuate our initial
business combination.

Our
units include 23,000,000 rights which convert on a 10-to-1 basis upon the consummation of our initial business combination. As such,
upon the consummation of our initial business combination the rights will convert into 2,300,000 Class A Ordinary Shares. In addition,
our initial shareholders, officers and directors or their affiliates may, but are not obligated to, make certain loans to us, up to $1,500,000
of which may be converted upon consummation of our initial business combination into additional private units at a price of $10.00 per
unit (which, for example, would result in the holders being issued private rights entitling the holder to an aggregate of 15,000 Class
A Ordinary Shares upon the consummation of our initial business combination). To the extent we issue Class A Ordinary Shares to effectuate
a business transaction, the potential for the issuance of a substantial number of additional Class A Ordinary Shares upon conversion
of our rights could make us a less attractive acquisition vehicle to a target business. Any such issuance will increase the number of
issued and outstanding Class A Ordinary Shares and reduce the value of the Class A Ordinary Shares issued to complete the business
transaction. Therefore, our rights may make it more difficult to effectuate a business combination or increase the cost of acquiring
the target business.

Our
rights agreement designates the courts of the State of New York or the United States District Court for the Southern District
of New York as the sole and exclusive forum for certain types of actions and proceedings that may be