Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 137

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 137
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 shares 
     7,187,500 
  
    Private Shares 
     805,000 
  
    Total shares 
     30,992,500 
  
    Total funds in trust available for initial business combination 
    $223,100,000 
  
    Public shareholders’ investment per Class A ordinary share(1) 
    $10.00 
  
    Sponsor’s investment per Class B ordinary share(2) 
    $0.003 
  
    Initial implied value per public share 
    $10.05 
  
    Implied value per share upon consummation of initial business combination(3) 
    $7.20 

(1)While
the public shareholders’ investment is in both the public shares and the public rights, for purposes of this table the full investment
amount is ascribed to the public shares only.

(2)The total investment in the equity of the company by the sponsor and
BTIG. is $8,075,000, consisting of (i) $25,000 paid by the sponsor for the founder shares, (ii) $4,950,000 paid by the sponsor
for 495,000 private units and (iii) $3,100,000 paid by BTIG for 310,000 private units. For purposes of this table, the full investment
amount is ascribed to the founder shares only.

(3)All
founder shares would automatically convert into Class A Ordinary Shares upon completion of our initial business combination or earlier
at the option of the holder.

The
value of the founder shares following completion of our initial business combination is likely to be substantially higher than the nominal
price paid for them, even if the trading price of our ordinary at such time is substantially less than $10.00 per share.

Our
sponsor has invested in us an aggregate of $5,225,000, comprised of the $25,000 purchase price for the founder shares and the $5,200,000
purchase price for the private units. Assuming a trading price of $10.00 per share upon consummation of our initial business combination,
the 7,187,500 founder shares would have an aggregate implied value of $71,875,000. Even if the trading price of our ordinary shares significantly
declines, the value of the founder shares held by our sponsor will be significantly greater than the amount our sponsor paid to purchase
such shares. As a result, our sponsor is