Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 66

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 66
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. SLAC completed its initial public offering
of 34,500,000 units in February 2021, in which it raised aggregate proceeds of approximately $345,000,000. After SLAC’s
IPO, SLAC’s management team commenced an active search for prospective businesses and/or assets to acquire in its initial business
combination. On July 31, 2022, SLAC entered into a Business Combination Agreement with W3BCLOUD Holdings Inc. The business combination
was terminated due to changes in market conditions.

On February 12, 2024,
the board of directors of SLAC determined that it would not be able to complete an initial business combination within the period required.
SLAC announced that it would not consummate an initial business combination and it would redeem its public shares. SLAC has been dissolved
and liquidated following the redemption. Its securities are no longer listed on Nasdaq.

Other than as described above,
our sponsor, its affiliates, and the promoters are not involved in any other special purpose acquisition companies.

4

Business Strategy

Our strategy is to leverage
our team’s extensive track record in running public companies, mergers & acquisitions and capital markets to identify and
complete an initial business combination. We may pursue an acquisition opportunity in any industry or geographic location.

Business Combination Criteria

Based on our management’s
experience, including with prior special purpose acquisition companies, we have developed the following non-exclusive investment criteria
that we intend to use to screen for and evaluate prospective target businesses.

●Leading Industry Position with Supportive Long-Term
Dynamics and Competitive Market Advantage.  We intend to target businesses that hold, or have the potential
to hold, a leading position in an industry sector with attractive macro-characteristics. We intend to target businesses that have, or
have the potential to have, sustainable competitive advantages that would be challenging for a competitor to replicate. Factors contributing
to sustainable competitive advantages may include: (i) proprietary or superior technology or trade secrets; (ii) broad distribution
networks; (iii) well-established brand names; (iv) territorial exclusivity or a well-defined market; (v) diverse and stable
customer and supplier base; (vi) low-cost production capability/economies of scale; (vii) customer habit/share of mind; (viii) a
lack of available substitutes and/or high search or switching costs; (ix) network effects;