Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 699

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 5
Chunk 699
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 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 December 31, 2024 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 period from June 14, 2024 (inception)
through December 31, 2024, we had a net income of $443,117, which consisted of interest earned on marketable securities held in the
Trust Account of $493,853, offset by operating expenses of $50,736.

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 $4,600,000 of cash underwriting fees, $8,050,000 of deferred underwriting fees and $704,261
of other offering costs.

For the period from June 14, 2024 (inception)
through December 31, 2024, net cash used in operating activities was $159,847. Net income of $443,