Company: MLAC
Filing Date: 2025-10-07
Form Type: 8-K
Source: 0001213900-25-097093
Chunk: 3

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 8-K
Item: Item 1.01
Chunk 3
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 Class B Stock will be cancelled pro rata upon any transfer of shares of Pubco Class A Stock to any third party by the
Seller (other than to the Seller’s affiliates).

Immediately following the
Closing, the Pubco Class A Stock will be held by the former SPAC shareholders, the former Company Members, and the Seller, while the Pubco
Class B Stock will be held only by the Seller.

Representations and Warranties

The Business Combination Agreement
contains customary representations and warranties of the parties, which shall not survive the Closing. Certain representations and warranties
are qualified by materiality or Material Adverse Effect. “Material Adverse Effect” as used in the Business Combination
Agreement means with respect to any specified person, any fact, event, occurrence, change or effect that has had, or would reasonably
be expected to have, individually or in the aggregate, a material adverse effect on (i) the business, assets, liabilities, results of
operations or condition (financial or otherwise) of such person and its subsidiaries, taken as a whole, or (ii) the ability of such person
or any of its subsidiaries to consummate the Transactions, in each case subject to certain customary exceptions. Certain of the representations
are subject to specified exceptions and qualifications contained in the Business Combination Agreement or in information provided pursuant
to certain disclosure schedules to the Business Combination Agreement.

Covenants

The Business Combination Agreement
contains pre-closing covenants of the parties, including obligations of the parties to operate their respective businesses in the ordinary
course consistent with past practice, and to refrain from taking certain specified actions without the prior written consent of certain
other parties, in each case, subject to certain exceptions and qualifications. Additionally, the parties have agreed not to solicit, negotiate
or enter into competing transactions, as further provided in the Business Combination Agreement. The covenants do not survive the Closing
(other than those that are to be performed after the Closing).

The Business Combination Agreement
also contains obligations of certain of the parties to use their reasonable best efforts to consummate the Transactions contemplated by
the Business Combination Agreement. This includes certain obligations of SPAC, Pubco and the Company to use reasonable best efforts to
take all actions and do all things necessary, proper or advisable to consummate the transactions contemplated by the Company Unit Subscription
Agreements (as defined below), on the terms and conditions described therein.

Additionally, the Company
shall purchase a number of AVAX equal to the gross cash proceeds from the