Company: MLAC
Filing Date: 2025-10-07
Form Type: 425
Source: 0001213900-25-097100
Chunk: 12

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 425
Chunk 12
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 coordination of sales
in underwritten offerings, and will become effective upon the Closing and will supersede SPAC’s existing registration rights agreement
in its entirety.

The form of Amended and Restated Registration Rights Agreement is filed as Exhibit 10.4 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 form of the Amended and Restated Registration Rights Agreement and the terms of which are incorporated by reference herein.

Company Unit Subscription Agreement

Concurrently with the
execution of the Business Combination Agreement, Pubco, the Company and SPAC entered into subscription agreements (collectively, the
“Company Unit Subscription Agreements”) with certain investors (the “Company Unit Investors”),
pursuant to which the Company Unit Investors agreed to purchase, payable in cash or USD Coin (“USDC”), unlocked
AVAX or locked AVAX, and the Company agreed to issue and sell, approximately $274 million worth of Company Class A units (the
“Subscribed Units”) at a price of $10.00 per Subscribed Unit, in a private placement (the “Company Unit Subscription”), upon the terms
and subject to the conditions set forth therein. Company Unit Investors received a number of Subscribed Units equal to the quotient
of (i) the Subscription Price and (ii) $10.00 (the “Per Unit Price”). “Subscription Price”
means (a) if the Company Unit Investor elected to subscribe for the Subscribed Units with cash or USDC, the amount contributed as
set forth on the signature page to its Company Unit Subscription Agreement, or (b) if the Company Unit Investor elected to subscribe
for the Subscribed Units with AVAX, an amount (in USD) equal to the product of (x) the amount of AVAX contributed as set forth on
the signature page to its Company Unit Subscription Agreement and (y) the applicable Signing AVAX Price. “Signing AVAX Price” means the VWAP of AVAX denominated in USD as calculated from all executed trades on Binance (or its successor
primary spot exchange) over the five-day period ending at 8:00 p.m. New York City time on September 29, 2025.

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The Company Unit Subscription
Agreements were executed concurrently with the Business Combination Agreement. Each Company Unit Investor was required to fund its respective
cash or USDC within three business