Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 87

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 87
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There is a nominal cost associated with the above-referenced process
and the act of certificating the shares or delivering them through the DWAC system. The transfer agent will typically charge the broker
submitting or tendering shares a fee of approximately $100 and it would be up to the broker whether or not to pass this cost on to the
redeeming holder. However, this fee would be incurred regardless of whether or not we require holders seeking to exercise redemption rights
to submit or tender their shares. The need to deliver shares is a requirement of exercising redemption rights regardless of the timing
of when such delivery must be effectuated.

Any request to redeem such shares, once made, may
be withdrawn at any time up to the date set forth in the proxy materials or tender offer documents, as applicable. Furthermore, if a holder
of a public share delivered its certificate in connection with an election of redemption rights and subsequently decides prior to the
applicable date not to elect to exercise such rights, such holder may simply request that the transfer agent return the certificate (physically
or electronically). It is anticipated that the funds to be distributed to holders of our public shares electing to redeem their shares
will be distributed promptly after the completion of our initial business combination.

If our initial business combination is not approved
or completed for any reason, then our public shareholders who elected to exercise their redemption rights would not be entitled to redeem
their shares for the applicable pro rata share of the trust account. In such case, we will promptly return any certificates
delivered by public holders who elected to redeem their shares.

If our initial proposed initial business combination
is not completed, we may continue to try to complete an initial business combination with a different target until the end of the completion
window.

Redemption of Public Shares and Liquidation if No Initial Business
Combination

Our amended and restated memorandum and articles
of association provides that we will have only a 18 month duration for the closing window to complete our initial business combination.
If we are unable to complete our initial business combination within such 18-month period, we will, as promptly as reasonably possible
but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest
shall be net of taxes payable and up to $100,