Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 261

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 261
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 any indebtedness unless we have obtained from the lender a waiver of any right, title, interest or claim of any kind in or
to the monies held in the trust account. As such, no issuance of debt will affect the per share amount available for redemption from
the trust account. Nevertheless, the incurrence of debt could have a variety of negative effects, including:

●default
and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt obligations;

acceleration
of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants
that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;

●our
immediate payment of all principal and accrued interest, if any, if the debt is payable on demand;

●our
inability to obtain necessary additional financing if the debt contains covenants restricting our ability to obtain such financing while
the debt is outstanding;

●our
inability to pay dividends on our Class A Ordinary Shares;

●using
a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends
on our Class A Ordinary Shares if declared, expenses, capital expenditures, acquisitions and other general corporate purposes;

●limitations
on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;

●increased
vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation;
and

●limitations
on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of
our strategy and other purposes and other disadvantages compared to our competitors who have less debt.

We
may only be able to complete one business combination with the proceeds of the initial public offering and the sale of the private units,
which will cause us to be solely dependent on a single business which may have a limited number of products or services. This lack of
diversification may negatively impact our operations and profitability.

The
net proceeds from the initial public offering and the private placement of units provide us with $231,150,000 that we may use to complete
our initial business combination (after taking into account the $8,050,000 of deferred underwriting commissions being held in the trust
account, and excluding approximately $1,383,392 held outside the trust account to fund our working capital requirements).