Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 414

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1B
Chunk 414
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inception) through December 31, 2024, relates to the Company’s formation
and the initial public offering (“Initial Public Offering”), which is described below. The Company will not generate any operating
revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the
form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal
year end.

The registration statement for the Company’s
Initial Public Offering was declared effective on December 12, 2024. On December 16, 2024, the Company consummated the Initial Public
Offering of 23,000,000 units (the “Units” and, with respect to the shares of Class A ordinary shares included in the Units
sold, the “Public Shares”), which includes the partial exercise by the underwriters of their over-allotment option in the
amount of 2,000,000 Units, at $10.00 per Unit, generating gross proceeds of $230,000,000, which is described in Note 3. Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of 805,000 private placement units (each, a “Private
Placement Unit”) at a price of $10.00 per Private Placement Unit in a private placement to Mountain Lake Acquisition Sponsor LLC,
a Delaware limited liability company (“Sponsor”), and BTIG, representative of the underwriters (“BTIG”), generating
gross proceeds of $8,050,000, which is described in Note 4.

Transaction costs amounted to $13,354,261, consisting
of $4,600,000 of cash underwriting fee, $8,050,000 of deferred underwriting fee and $704,261 of other offering costs.

The Company’s management has broad
discretion with respect to the specific application of the net proceeds of its Initial Public Offering and the sale of Private Placement
Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination.
The Company’s initial Business Combination must be with one or more operating businesses or assets with a fair market value equal
to at least 80% of the net assets held in the Trust Account (as defined below) (excluding any deferred underwriters fees and taxes payable
on the income earned on the Trust Account) at the time the Company signs a definitive agreement in connection with the