Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 158

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 158
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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 outstanding public rights.

Our
rights will be issued in registered form under a rights agreement between Continental Stock Transfer & Trust Company, as rights
agent, and us. The rights agreement provides that the terms of the rights may be amended without the consent of any holder to cure any
ambiguity or correct any defective provision, but requires the approval by the holders of at least 50% of the then outstanding public
rights to make any change that adversely affects the rights of the registered holders of public rights under the rights agreement. Accordingly,
we may amend the terms of the public rights in a manner adverse to a holder if holders of at least 50% of the then outstanding public
rights approve of such amendment.

Our
rights may have an adverse effect on the market price of our Class A Ordinary Shares and make it more difficult to effectuate our initial
business combination.