Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 81

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 81
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 on the funds held in the trust account (which interest shall be net of taxes payable), divided by the number of then outstanding
public shares, subject to the limitations and on the conditions described herein. The amount in the trust account is initially anticipated
to be $10.05 per public share. The per share amount we will distribute to investors who properly redeem their shares will not be reduced
by the deferred underwriting commissions we will pay to the underwriters. Our initial shareholders, sponsor, officers and directors have
entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder
shares and public shares they may hold in connection with the completion of our initial business combination or an earlier redemption
in connection with the commencement of procedures to consummate the initial business combination if we determine it is desirable to facilitate
the completion of the initial business combination.

Limitations on Redemptions

Our proposed initial business combination may impose
a minimum cash requirement for: (i) cash consideration to be paid to the target or its owners, (ii) cash for working capital
or other general corporate purposes or (iii) the retention of cash to satisfy other conditions. In the event the aggregate cash consideration
we would be required to pay for all Class A Ordinary Shares that are validly submitted for redemption plus any amount required to
satisfy cash conditions pursuant to the terms of the proposed initial business combination exceed the aggregate amount of cash available
to us, we will not complete the initial business combination or redeem any shares in connection with such initial business combination,
and all Class A Ordinary Shares submitted for redemption will be returned to the holders thereof. We may, however, raise funds through
the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our initial business
combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into, in order to, among other reasons,
satisfy such net tangible assets or minimum cash requirements.

Manner of Conducting Redemptions

We will provide our public shareholders with the
opportunity to redeem all or a portion of their public shares (up to an aggregate of 15% of the shares sold in the initial public offering)
upon the completion of our initial business combination either (i) in connection with a shareholder meeting called to approve the
initial business combination or (ii) without a shareholder vote by means of a tender offer. The decision as to whether