Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 70

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 70
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 business combination. If we seek shareholder approval for an extension, holders of Class A Ordinary
Shares will be offered an opportunity to redeem their shares at a per share price, payable in cash, equal to the aggregate amount then
on deposit in the trust account, including interest earned thereon (less taxes payable), divided by the number of then issued and outstanding
Class A Ordinary Shares, subject to applicable law. If we determine not to or are unable to extend the time period to consummate
our initial business combination or fail to obtain shareholder approval to extend the completion window, our sponsor’s investment
in the founder shares, private shares and private rights will be worthless, except to the extent they receive liquidating distributions
from assets outside the trust account.

If we are unable to complete
our initial business combination within the completion window, we will redeem 100% of the public shares at a per share price, payable
in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned thereon (which interest shall be
net of taxes payable and up to $100,000 of interest income to pay liquidation expenses), divided by the number of then issued and outstanding
Class A Ordinary Shares, subject to applicable law and certain conditions as further described herein. We expect the pro rata
redemption price to be approximately $10.05 per public share, without taking into account any interest or other income earned on such
funds. However, we cannot assure you that we will in fact be able to distribute such amounts as a result of claims of creditors, which
may take priority over the claims of our public shareholders.

Nasdaq rules require that we
must complete one or more business combinations having an aggregate fair market value of at least 80% of the value of the assets held
in the trust account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the trust account).
Our board of directors will make the determination as to the fair market value of our initial business combination. If our board of directors
is not able to independently determine the fair market value of our initial business combination, we will obtain an opinion from an independent
investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such
criteria. While we consider it likely that our board of directors will be able to make an independent determination of the fair market
value of our initial business combination, it may be unable to do so if it is less familiar or