Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 92

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 92
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 shareholders. Furthermore, our board of directors may be viewed as having breached its fiduciary duty to our creditors and/or may
have acted in bad faith, and thereby exposing itself and our company to claims of punitive damages, by paying public shareholders from
the trust account prior to addressing the claims of creditors. We cannot assure you that claims will not be brought against us for these
reasons.

Our public shareholders will be entitled to receive
funds from the trust account only (i) in the event of the redemption of our public shares if we do not complete our initial business
combination within the completion window, (ii) in connection with a shareholder vote to amend our amended and restated memorandum
and articles of association (A) to modify the substance or timing of our obligation 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 or (iii) if they redeem their respective shares for
cash upon the completion of our initial business combination. In no other circumstances will a shareholder have any right or interest
of any kind to or in the trust account. In the event we seek shareholder approval in connection with our initial business combination,
a shareholder’s voting in connection with the business combination alone will not result in a shareholder’s redeeming its
shares to us for an applicable pro rata share of the trust account. Such shareholder must have also exercised its
redemption rights described above. These provisions of our amended and restated memorandum and articles of association, like all provisions
of our amended and restated memorandum and articles of association, may be amended with a shareholder vote.

Comparison of Redemption or Purchase Prices in Connection with
Our Initial Business Combination and if We Fail to Complete Our Initial Business Combination.

The following table compares the redemptions and
other permitted purchases of public shares that may take place in connection with the completion of our initial business combination and
if we are unable to complete our initial business combination within the completion window.

    Redemptions in Connection
with our Initial Business
Combination
     
    Other Permitted Purchases of
Public Shares by our Affiliates
     
    Redemptions if we fail to
Complete an Initial Business
Combination
  
    Calculation of redemption price
     
    Redemptions at the time of our initial business combination may be made pursuant to a