Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 256

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 256
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 submitted in connection with a shareholder vote to amend our amended and restated
memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption in connection
with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within
the completion window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business
combination activity; or (iii) absent an initial business combination within the completion window, our return of the funds held
in the trust account to our public shareholders as part of our redemption of the public shares. If we do not invest the proceeds as described
above, we may be deemed to be subject to the Investment Company Act. Notwithstanding that we have limited our activities as described
above, we could nevertheless be considered to be operating as an unregistered investment company. If our facts and circumstances change
over time, we will update our disclosure in future filings with the SEC to reflect how those changes impact the risk that we may be considered
to be operating as an unregistered investment company.

If
we were deemed to be an investment company for purposes of the Investment Company Act, we would need to register as such under the Investment
Company Act and compliance with these additional regulatory burdens would require additional expenses for which we have not allotted
funds and may hinder our ability to complete a business combination. We may also be forced to abandon our efforts to complete an initial
business combination, and instead be required to liquidate the trust account and may be required to change our operations or wind down
our operations. In which case, our investors would not be able to realize the benefits of owning shares in a successor operating business,
including the potential appreciation in the value of our securities following such a transaction, and our rights would expire worthless.

28

If
we were deemed to be an investment company for purposes of the Investment Company Act, compliance with these additional regulatory burdens
would require additional expenses for which we have not allotted funds and may hinder our ability to complete a business combination.
We may also be forced to abandon our efforts to complete an initial business combination and instead be required to liquidate the trust
account. If we are required to liquidate the trust account, our investors would not be able to realize the benefits of owning shares
in a successor operating business, including the potential appreciation in the value of our securities following such a transaction,
and our rights would expire worthless