Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 101

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 101
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 section entitled “Proposed
Business — Shareholders May Not Have the Ability to Approve Our Initial Business Combination” for additional
information.

19

If we seek shareholder approval of our initial business combination,
our initial shareholders and management team have agreed to vote in favor of such initial business combination, regardless of how our
public shareholders vote.

Our initial shareholders own 23.2% of our outstanding
ordinary shares as of March 18, 2025. Our initial shareholders and management team also may from time-to-time purchase Class A
Ordinary Shares prior to our initial business combination. Our amended and restated memorandum and articles of association provides that,
if we seek shareholder approval of an initial business combination, such initial business combination will be approved if we receive the
affirmative vote of at least a majority of the shares voted at such meeting of the company. As a result, assuming that only the holders
of one-third of our issued and outstanding ordinary shares, representing a quorum under our amended and restated memorandum and articles
of association, vote their ordinary shares at a general meeting of the company, we will not need any public shares in addition to our
founder shares to be voted in favor of an initial business combination in order to approve an initial business combination. However, if
our initial business combination is structured as a statutory merger or consolidation with another company under Cayman Islands law, the
approval of our initial business combination will require a special resolution passed by the affirmative vote of at least two-thirds of
our ordinary shares which are represented in person or by proxy and are voted at a general meeting of the company. Accordingly, if we
seek shareholder approval of our initial business combination, the agreement by our initial shareholders and management team to vote in
favor of our initial business combination will increase the likelihood that we will receive the requisite shareholder approval for such
initial business combination.

Your only opportunity to effect your investment decision regarding
a potential business combination may be limited to the exercise of your right to redeem your shares from us for cash.

At the time of your investment in us, you will not be provided with
an opportunity to evaluate the specific merits or risks of our initial business combination. Since our board of directors may complete
a business combination without seeking shareholder approval, public shareholders may not have the right or opportunity to vote on the
business combination, unless we seek such shareholder vote. Accordingly, your only opportunity to effect your investment decision regarding
our initial business combination may be limited to