Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 166

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 166
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States prior
to certain redemptions. Because we expect that, following such a domestication, our securities would continue to trade on a national
securities exchange, in such a case, we could be subject to the Excise Tax with respect to any subsequent redemptions (including redemptions
in connection with an extension vote or the initial business combination). Whether and to what extent we would be subject to the Excise
Tax in connection with a business combination, extension vote or otherwise would depend on a number of factors, including (i) the
fair market value of the redemptions and repurchases in connection with the business combination, extension vote or otherwise, (ii) the
structure of a business combination, (iii) the nature and amount of any “PIPE” or other equity issuances in connection
with a business combination (or otherwise issued not in connection with a business combination but issued within the same taxable year
of a business combination) and (iv) the content of final regulations and other guidance from the Treasury.

Any
Excise Tax that becomes payable as a result of any redemptions of our ordinary shares (or other shares into which such ordinary shares
may be converted) would be payable by us and not by the redeeming holder. To the extent such taxes are applicable, the amount of cash
available to pay redemptions or to transfer to the target business in connection with our initial business combination may be reduced,
which could result in our inability to meet conditions in the agreement relating to our initial business combination related to a minimum
cash requirement, if any, or otherwise result in the shareholders of the combined company (including any of our shareholders who do not
exercise their redemption rights in connection with the initial business combination) to economically bear the impact of such Excise
Tax. Consequently, the Excise Tax may make a transaction with us less appealing to potential business combination targets. Finally, subject
to certain exceptions, the Excise Tax should not apply in the event of our complete liquidation.

53

We
are an emerging growth company and a smaller reporting company within the meaning of the Securities Act, and if we take advantage of
certain exemptions from disclosure requirements available to emerging growth companies or smaller reporting companies, this could make
our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.

We
are an “emerging growth company” within the meaning of the Securities Act, as modified by the JOBS Act