Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 57

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 57
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Item
1. Business.

Introduction

We are a blank check company
incorporated on June 14, 2024 as a Cayman Islands exempted company created for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar business combination, which we refer to throughout this annual report as
our initial business combination, with one or more businesses or entities. We have generated no operating revenues to date and we do not
expect that we will generate operating revenues until we consummate our initial business combination.

We completed our initial public
offering on December 16, 2024 and the proceeds of our initial public offering are held in a trust account for the benefit of our public
shareholders. We may use such amounts to help fund our initial business combination, subject to the right of our public shareholders to
have their common shares of our company redeemed in connection with our initial business combination.

We may pursue an initial business
combination target in any business or industry or at any stage of its corporate evolution. Our primary focus, however, will be in completing
a business combination with an established business of scale poised for continued growth, led by a highly regarded management team. Our
management team has an extensive track record of acquiring attractive assets at disciplined valuations, investing in growth while fostering
financial discipline and improving business results.

Company History

On December 16, 2024, we consummated our initial
public offering of 23,000,000 units (the “Units”). Each Unit consists of one share of Class A Ordinary Shares of the Company,
par value $0.0001 per share, and one right (“Right”), with each Right entitling the holder thereof to receive one-tenth of
one Class A Ordinary Share upon the consummation of an initial business combination. The Units were sold at a price of $10.00 per Unit,
generating gross proceeds to the Company of $230,000,000. The Company granted BTIG, the representative of the several underwriters of
the initial public offering (the “Representatives”), a 45-day option to purchase up to 3,000,000 additional Units solely to
cover over-allotments, if any.

Simultaneously with the closing of our initial
public offering, the Company completed the private sale of an aggregate of 805,000 units (the “Private Units”) to Mountain
Lake Acquisition Sponsor LLC and BTIG at a purchase price of $10.00