Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 264

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 264
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 our initial business
combination that our shareholders may not support.

In
order to effectuate an initial business combination, blank check companies have, in the past, amended various provisions of their charters
and modified governing instruments. For example, blank check companies have amended the definition of business combination, increased
redemption thresholds, and extended the time to consummate an initial business combination. We cannot assure you that we will not seek
to amend our amended and restated memorandum and articles of association or extend the time to consummate an initial business combination
in order to effectuate our initial business combination.

The
provisions of our amended and restated memorandum and articles of association that relate to our pre-business combination activity
(and corresponding provisions of the agreement governing the release of funds from our trust account) may be amended with the approval
of holders of not less than two-thirds of our ordinary shares which are represented in person or by proxy and are voted at
a general meeting of the company, which is a lower amendment threshold than that of some other special purpose acquisition companies.
It may be easier for us, therefore, to amend our amended and restated memorandum and articles of association to facilitate the completion
of an initial business combination that some of our shareholders may not support.

Our amended and restated memorandum and articles
of association provides that any of its provisions related to pre-business combination activity (including the requirement to deposit
proceeds of the initial public offering and the private placement into the trust account and not release such amounts except in specified
circumstances, and to provide redemption rights to public shareholders as described herein) and corresponding provisions of the trust
agreement governing the release of funds from our trust account may be amended if approved by special resolution, under Cayman Islands
law passed by the affirmative vote of at least two-thirds of our ordinary shares which are represented in person or represented by
proxy and are voted at a general meeting of the company. Our initial shareholders, who collectively beneficially own 23.2% of our ordinary
shares after the closing of the initial public offering, will participate in any vote to amend our amended and restated memorandum and
articles of association and/or trust agreement and will have the discretion to vote in any manner they choose. As a result, we may be
able to amend the provisions of our amended and restated memorandum and articles of association which govern our pre-business combination
behavior more easily than some other special purpose acquisition companies, and this may increase our