Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 295

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 295
---
 may
influence their motivation in identifying and selecting a target business combination, completing an initial business combination and
influencing the operation of the business following the initial business combination and may result in a misalignment of interests between
the holders of our founder shares and our officers and directors, on the one hand, and our public shareholders, on the other. These risks
may become more acute as the deadline to complete our initial business combination nears. In particular, because the founder shares were
purchased at a purchase price of approximately $0.006 per share, the holders of our founder shares (including certain of our directors
and officers that directly or indirectly own founder shares) could make a substantial profit after our initial business combination even
if our public shareholders lose money on their investment as a result of a decrease in the post-combination value of their Class
A Ordinary Shares (after accounting for any adjustments in connection with an exchange or other transaction contemplated by the business
combination). For example, a holder of 1,000 founder shares would have paid approximately $3.50 to purchase such shares. At the time
of an initial business combination, such holder would be able to convert such founder shares into 1,000 Class A Ordinary Shares, and
would receive the same consideration in connection with our initial business combination as a public shareholder for the same number
of Class A Ordinary Shares. If the trading price of our Class A Ordinary Shares on a post-combination basis (after accounting
for any adjustments in connection with an exchange or other transaction contemplated by the business combination) were to decrease to
$5.00 per Class A ordinary share, such holder of our founder shares would obtain a profit of approximately $4,996.50 on account of the
1,000 founder shares that the holder had converted into Class A Ordinary Shares in connection with the initial business combination.
By contrast, a public shareholder holding 1,000 Class A Ordinary Shares would lose approximately $5,000 in connection with the same transaction.

49

Further,
each of our officers and directors may have a conflict of interest with respect to evaluating a particular business combination if the
retention or resignation of any such officers and directors were to be included by a target business as a condition to any agreement
with respect to our initial business combination.

We
may amend the terms of the rights in a manner that may be adverse to holders of public rights with the approval by the holders of at
least 50% of the then