Company: MLAC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042737
Chunk: 43

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part II, Item 2
Chunk 43
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Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.

On December 16, 2024, we consummated the Initial
Public Offering of 23,000,000 Units. The Units were sold at an offering price of $10.00 per unit, generating total gross proceeds of $230,000,000.
The securities in the offering were registered under the Securities Act on registration statement on Form S-1 (No.333-281410). The Securities
and Exchange Commission declared the registration statements effective on December 12, 2024.

Simultaneously with the consummation of the Initial
Public Offering, the Sponsor consummated the private placement of an aggregate of 805,000 Units at a price of $10.00 per Private Placement
Unit with our Sponsor, and BTIG, as representative of the underwriters, generating total proceeds of $8,050,000. Each Unit consists of
one Class A ordinary share and one right to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of the initial
business combination. The issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities
Act.

The Private Placement Units are identical to the
units underlying the Units sold in the Initial Public Offering, except that the Private Placement Units are not transferable, assignable
or salable until after the completion of a Business Combination, subject to certain limited exceptions.

On December 13, 2024, the underwriters exercised
the over-allotment option partially to purchase an additional 2,000,000 Units. On December 16, 2024, the Company consummated the IPO of
23,000,000 units (the “Units”). Each Unit consists of one Class A ordinary share, $0.0001 par value (“Class A Ordinary
Share”) and one right to receive one-tenth (1/10) of one Class A Ordinary Share upon the consummation of an initial business combination.
The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $230,000,000. A total of $231,150,000 of the
net proceeds from the IPO (including the over-allotment Units) and the Private Placement (as defined below) were deposited in a trust
account established for the benefit of the Company’s public shareholders.

We paid a total of $4,600