Company: MLAC
Filing Date: 2025-10-07
Form Type: 8-K
Source: 0001213900-25-097093
Chunk: 1

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 8-K
Item: Item 1.01
Chunk 1
---
 by the Business Combination Agreement,
including the Foundation Transaction, the Dragonfly Contribution and the Company Unit Subscription, the “ Transactions”),
and with (i) each Company member other than the Seller receiving one share of Pubco Class A Stock for each Company unit held immediately
prior to the effective time of the Company Merger and (ii) the Seller receiving one share of Pubco Class A Stock and one share of Pubco
Class B common stock, par value $0.01 per share (“ Pubco Class B Stock” and, together with the Pubco Class A Stock,
the “ Pubco Stock”), for each Company unit it holds. As a result of the Mergers and the other transactions contemplated
by the Business Combination Agreement, Pubco will become a publicly traded company, all upon the terms and subject to the conditions set
forth in the Business Combination Agreement and in accordance with applicable law.

As additional consideration
for the Company Merger (the “ Additional Merger Consideration”), at the Company Merger Effective Time, Pubco will also
issue to the Seller 4,000,000 shares of Pubco Class A Stock and 4,000,000 shares of Pubco Class B Stock. At the Closing, 2,000,000 shares
of Pubco Class A Stock and 2,000,000 shares of Pubco Class B Stock that will be issued to Seller as part of the Additional Merger Consideration
(the “ Seller Earnout Shares”) will be deposited into an escrow account with Continental Stock Transfer and Trust Company
(or another escrow agent reasonably acceptable to the Seller and Pubco), and will be released in tranches, all as provided in the Business
Combination Agreement and the escrow agreement that will be entered by and between Seller, Pubco and the escrow agent in a form to be
mutually agreed upon by the parties prior to the Closing (the “ Escrow Agreement”). Unless released earlier, in accordance
with the Escrow Agreement and Business Combination Agreement, the Seller Earnout Shares will be held in escrow for a period commencing
on the Closing Date and ending on fifth anniversary of the Closing Date (such period, the “ Escrow Period”). The Seller
Earnout Shares, together with any shares received upon equitable adjustment of the Seller Earnout Shares, shall be subject to potential
transfer to Pubco for no consideration (the “ Seller Transfer”) at the end of the Earnout Period in the event that not
all of the Triggering Events