Company: MLAC
Filing Date: 2025-10-07
Form Type: 8-K
Source: 0001213900-25-097093
Chunk: 13

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 8-K
Item: Item 3.02
Chunk 13
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 be terminated prior to the Closing as follows: (a) by the mutual written consent of the parties thereto and SPAC; or (b) automatically
with no further action required by the parties thereto if the Business Combination Agreement is terminated in accordance with its terms.

The
Contribution Agreement is filed as Exhibit 99.1 to this Current Report on Form 8-K, and the foregoing description thereof is qualified
in its entirety by reference to the full text of the Contribution Agreement and the terms of which are incorporated by reference herein.

Token Sale Agreement

Concurrently
with the execution of the Business Combination Agreement and the Contribution Agreement, the Company, Pubco, Avalanche BVI and
Avalanche Cayman entered into the TSA, pursuant to which, on the date of the Business Combination Agreement, the Foundation agreed
to sell a minimum of $200 million of AVAX tokens on a pre-discount basis to the Company in exchange for (i) $50 million in cash or
USDC and (ii) $30 million in the form of 3,000,000 shares of Pubco Class A Stock (the “ Foundation Shares”). If at
any time following the Closing Date, the Pubco Class A Stock cease to be nonvoting securities and at such time the Foundation owns a
number of Foundation Shares in excess of 4.7% of the then-outstanding Pubco Class A Stock (the “Maximum
Percentage”), the Foundation may request to exchange the number of Foundation Shares in excess of the Maximum Percentage
for an equal number of pre-funded warrants convertible, at the Foundation’s request, into Pubco Class A Stock on a one-to-one
basis. The AVAX tokens delivered pursuant to the TSA are subject to certain restrictions for 5 years following the date of the TSA.
The TSA shall be terminated upon termination of the Contribution Agreement.

The
TSA is filed as Exhibit 99.2 to this Current Report on Form 8-K, and the foregoing description thereof is qualified in its entirety by
reference to the full text of the TSA and the terms of which are incorporated by reference herein.

Additional Information
and Where to Find It

Pubco and the Company
intend to file with the Securities and Exchange Commission (the “ SEC”) a Registration Statement on Form S-4 (as may be amended,
the “ Registration Statement”), which will include a preliminary proxy statement of SPAC and a prospectus (the “ Proxy
Statement/Prospectus”) in connection with the Proposed