Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 673

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 4
Chunk 673
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Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more
of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to
be required to register as an investment company under the Investment Company Act.

Upon the closing of the Proposed Public Offering,
management has agreed that an amount equal to at least $10.05 per Unit sold in the Proposed Public Offering, including the proceeds of
the Private Placement Units, will be held in a trust account (“Trust Account”) with Continental Stock Transfer &
Trust Company acting as trustee and invested in United States “government securities” within the meaning of Section 2(a)(16) of
the Investment Company Act having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7
promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations, as determined by the
Company, until the earlier of (i) the completion of a Business Combination and (ii) the distribution of the Trust Account as
described below.

 Following the closing of the Initial Public Offering on December 16,
2024, an amount of $231,150,000 ($10.05 per Unit) from the net proceeds of the sale of the Units, and a portion of the net proceeds from
the sale of the Private Placement Units, was placed in the Trust Account with Continental Stock Transfer & Trust Company acting as
trustee. The funds will be held in cash, including in demand deposit accounts at a bank, or invested only in U.S. government treasury
obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment
Company Act which invest only in direct U.S. government treasury obligations, as determined by the Company, until the earlier of (i) the
completion of a Business Combination and (ii) the distribution of the Trust Account as described below.

The Company will provide its holders of the Public
Shares (the “Public Shareholders”) with the opportunity to redeem, regardless of whether they abstain, vote for, or against,
a Business Combination, all or a portion of their Public Shares upon either (i) the completion of the initial Business Combination
or an earlier redemption in connection with the commencement of the consummation of the initial