Company: MLAC
Filing Date: 2025-10-07
Form Type: 8-K
Source: 0001213900-25-097093
Chunk: 8

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 8-K
Item: Item 1.01
Chunk 8
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 transfer to Pubco for no consideration (the “Sponsor Transfer”) at the end of the Earnout Period
in the event that not all of the Triggering Events are achieved by Pubco.

The Sponsor Earnout Shares
shall vest, no longer be subject to the Sponsor Transfer and shall be released from the escrow account to the Sponsor, in the amounts
specified below, upon Pubco meeting the price milestones specified below:

  (i)      Upon the occurrence of Triggering Event I, 533,333 Sponsor Earnout  

  (ii)      Upon the occurrence of Triggering Event II, 533,333 Sponsor Earnout Shares shall be released from the escrow account to the Sponsor; and  

  (iii)      Upon the occurrence of Triggering Event III, 533,334 Sponsor Earnout Shares shall be released from the escrow account to the Sponsor.  

Pursuant to the Sponsor Support
Agreement, the parties agreed that prior to the Closing they would enter into an amendment to the Insider Letter, to amend certain terms
relating to transfer restrictions applicable to the shares held by the Sponsor. Sponsor also agreed to use its reasonable best efforts
to cause BTIG, LLC (“BTIG”), the underwriter of SPAC’s initial public offering, to forfeit all deferred underwriting
fees in excess of $1,000,000 and to use reasonable efforts to cause BTIG to deliver all of the 310,000 Private Placement Units it holds
for cancellation. Further, the Sponsor also agreed, subject to and effective as of the Closing, to irrevocably and unconditionally release
and waive any and all claims it may have against SPAC, Pubco and the Company or their respective affiliates arising on or prior to the
Closing, subject to customary carve-outs.

The Sponsor Support Agreement
and certain of its provisions will terminate and be of no further force or effect upon the earlier to occur of the Closing and the valid
termination of the Business Combination Agreement pursuant to its terms and, if the Business Combination Agreement is terminated pursuant
to its terms, all provisions of the Sponsor Support Agreement will terminate and be of no further force or effect.

The Sponsor Support Agreement
is filed as Exhibit 10.1 to this Current Report on Form 8-K, and the foregoing description thereof does not purport to be complete and
is qualified in its entirety by reference to the full text of the Sponsor Support Agreement and the terms of which are incorporated by
reference herein.

Lock-Up Ag