Company: MLAC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042737
Chunk: 100

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 100
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purchase, reorganization or similar business combination with one or more businesses that the Company has not yet identified (“Business
Combination”). We intend to effectuate our Business Combination using cash derived from the proceeds of our initial public offering
and the sale of the Private Placement Unit, our shares, debt or a combination of cash, shares and debt.

We expect to continue to
incur significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination
will be successful.

Results of Operations

We have neither engaged in
any operations nor generated any revenues to date. Our only activities from June 14, 2024 (inception) through March 31, 2025 were organizational
activities, those necessary to prepare for our initial public offering, described below, and identifying a target company for a Business
Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating
income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended March 31, 2025, we
had a net income of $2,018,521, which consists of interest income on marketable securities held in the Trust Account of $2,339,304, partially
offset by operating costs of $320,783.

Liquidity and Capital Resources

On December 16, 2024, we
consummated the Initial Public Offering of 23,000,000 Units, which includes the partial exercise by the underwriters of their over-allotment
option in the amount of 2,000,000 Units, at $10.00 per Unit, generating gross proceeds of $230,000,000. Simultaneously with the closing
of the Initial Public Offering, we consummated the sale of 805,000 Private Placement Units at a price of $10.00 per Private Placement
Unit in a private placement to the Sponsor, generating gross proceeds of $8,050,000.

Following the Initial Public
Offering, the partial exercise of the over-allotment option, and the sale of the Private Units, a total of $231,150,000 was placed in
the Trust Account. We incurred $13,354,261, consisting of $4,600,