Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 570

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 3
Chunk 570
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 or underlying
securities (except in limited circumstances, as described in the Registration Statements) until 30 days after the completion of the Company’s
initial business combination. The holders were granted certain demand and piggyback registration rights in connection with the purchase
of the Private Units.

The
Private Units were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, as the transaction did not involve
a public offering.

As of December 16, 2024, a total of $231,150,000
of the net proceeds from our initial public offering (including the over-allotment Units) and the Private Placement (as defined below)
were deposited in a trust account established for the benefit of the Company’s public shareholders.

We paid a total of $4,600,000
in underwriting discounts and commissions and $704,261 for other costs and expenses related to the initial public offering. In addition,
the underwriters agreed to defer $8,050,000 in underwriting discounts and commissions.

There has been no material
change in the planned use of proceeds from our initial public offering as described in our final prospectus dated December 12, 2024 which
was filed with the SEC.

Stock Repurchases

We did not repurchase shares
of our common shares during the year ended December 31, 2024.

Item 6. [Reserved]

58

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of the Company’s
financial condition and results of operations should be read in conjunction with our audited financial statements and the notes related
thereto which are included in “Item 8. Financial Statements and Supplementary Data” of this Annual Report on Form 10-K. Certain
information contained in the discussion and analysis set forth below includes forward-looking statements. Our actual results may differ
materially from those anticipated in these forward-looking statements as a result of many factors, including those set forth under “Special
Note Regarding Forward-Looking Statements,” “Item 1A. Risk Factors” and elsewhere in this Annual Report on Form 10-K.

Overview

We are a blank check company incorporated
in the Cayman Islands on June 14, 2024 formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more businesses that the Company has