Company: MLAC
Filing Date: 2025-10-07
Form Type: 425
Source: 0001213900-25-097100
Chunk: 6

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 425
Chunk 6
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 the
purpose of SPAC soliciting proxies from the SPAC shareholders to approve (the “SPAC Shareholder Approval”), at an extraordinary
general meeting of SPAC shareholders (the “Extraordinary General Meeting”), resolutions approving the Business Combination
Agreement, the Transactions and related matters (the “SPAC Shareholder Approval Matters”) and providing SPAC shareholders
an opportunity, in accordance with SPAC’s organizational documents and initial public offering prospectus, to have their SPAC Class
A Ordinary Shares redeemed.

The parties agreed to take
all necessary action so that effective as of the Closing, the board of directors of Pubco will consist of five individuals, each of which
are to be designated by the Seller.

Conditions to the Parties’ Obligations to Consummate the Merger

Under the Business Combination
Agreement, the obligations of the parties to consummate (or cause to be consummated) the Transactions are subject to a number of customary
conditions for special purpose acquisition companies, including, among others, the following: (i) the receipt of the SPAC Shareholder
Approval; (ii) the consummation of the Transactions not being prohibited by applicable law; (iii) effectiveness of the Registration Statement;
and (iv) the shares of Pubco Class A Stock having been approved for listing on Nasdaq, the New York Stock Exchange or another national
stock exchange.

The obligations of SPAC to
consummate (or cause to be consummated) the Transactions are also subject to, among other things (i) the representations and warranties
of the Company, Pubco, Pubco Subsidiaries and the Seller being true and correct, subject to the applicable materiality standards contained
in the Business Combination Agreement, (ii) material compliance by the Company, Pubco, Pubco Subsidiaries and the Seller with their respective
pre-closing covenants, (iii) no occurrence of a Material Adverse Effect with respect to the Company or Pubco, and (iv) completion of the
Foundation Transaction and the Dragonfly Contribution in accordance with the Token Sale Agreement and the Contribution Agreement.

The obligations of the Company,
Pubco, the Pubco Subsidiaries and the Seller to consummate (and cause to be consummated) the Transactions are also subject to, among other
things: (i) the representations and warranties of SPAC being true and correct, subject to the applicable materiality standards contained
in the Business Combination Agreement, (ii) material compliance