Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 265

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 265
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 ability to complete a business combination
with which you do not agree. Our shareholders may pursue remedies against us for any breach of our amended and restated memorandum and
articles of association.

Our
sponsor, officers and directors have agreed, pursuant to a written agreement with us, that they will not propose any amendment to our
amended and restated memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption
in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business
combination within the completion window or (B) with respect to any other material provisions relating to shareholders’ rights
or pre-initial business combination activity, unless we provide our public shareholders with the opportunity to redeem their Class A
Ordinary Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on
deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes
payable), divided by the number of then outstanding public shares. Our shareholders are not parties to, or third-party beneficiaries
of, these agreements and, as a result, will not have the ability to pursue remedies against our sponsor, officers or directors for any
breach of these agreements. As a result, in the event of a breach, our shareholders would need to pursue a shareholder derivative action,
subject to applicable law.

Certain
agreements to which we are a party may be amended without shareholder approval.

Certain
agreements to which we are a party may be amended without shareholder approval. Such agreements are: the underwriting agreement; the
letter agreement among us and our initial shareholders, sponsor, officers and directors; the registration rights agreement among us and
our initial shareholders; and the private units purchase agreement between us and our sponsor. These agreements contain various provisions
that our public shareholders might deem to be material. For example, our letter agreement and the underwriting agreement contain certain
lock-up provisions with respect to the founder shares, private units and other securities held by our initial shareholders, sponsor,
officers and directors. Amendments to such agreements would require the consent of the applicable parties thereto and would need to be
approved by our board of directors, which may do so for a variety of reasons, including to facilitate our initial business combination.
While we do not expect our board of directors to approve any amendment to any