Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 268

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 268
---
 be considered for appointment and our initial shareholders, because of their ownership position, will have considerable
influence regarding the outcome. Accordingly, our initial shareholders will continue to exert control at least until the completion of
our initial business combination.

34

We
may not be able to complete an initial business combination since such initial business combination may be subject to regulatory review
and approval requirement, including foreign investment regulations and review by government entities such as the Committee on Foreign
Investment in the United States (“CFIUS”), or may be ultimately prohibited.

Our
initial business combination may be subject to regulatory review and approval requirements by governmental entities, or ultimately prohibited.
For example, CFIUS has authority to review direct or indirect foreign investments in U.S. companies. Among other things, CFIUS is
empowered to require certain foreign investors to make mandatory filings, to charge filing fees related to such filings, and to self-initiate national
security reviews of foreign direct and indirect investments in U.S. companies if the parties to that investment choose not to file
voluntarily. In the case that CFIUS determines an investment to be a threat to national security, CFIUS has the power to unwind or place
restrictions on the investment. Whether CFIUS has jurisdiction to review an acquisition or investment transaction depends on — among
other factors — the nature and structure of the transaction, including the level of beneficial ownership interest and
the nature of any information or governance rights involved. For example, investments that result in “control” of a U.S. business
by a foreign person always are subject to CFIUS jurisdiction. CFIUS’s expanded jurisdiction under the Foreign Investment Risk Review
Modernization Act of 2018 and implementing regulations that became effective on February 13, 2020 further includes investments
that do not result in control of a U.S. business by a foreign person but afford certain foreign investors certain information or
governance rights in a U.S. business that has a nexus to “critical technologies,” “critical infrastructure”
and/or “sensitive personal data.”

Our
sponsor owns approximately 23.2% of our issued and outstanding ordinary shares following the initial public offering. Our sponsor is
exclusively “controlled” for CFIUS purposes by Paul Grinberg and Douglas Horlick, who is a U.S. citizen, and thus we
do not believe that our sponsor is a “foreign person” as