Company: MLAC
Filing Date: 2025-10-07
Form Type: 425
Source: 0001213900-25-097100
Chunk: 10

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-10-07
Form: 425
Chunk 10
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 an amendment to the Insider Letter, to amend certain terms
relating to transfer restrictions applicable to the shares held by the Sponsor. Sponsor also agreed to use its reasonable best efforts
to cause BTIG, LLC (“BTIG”), the underwriter of SPAC’s initial public offering, to forfeit all deferred underwriting
fees in excess of $1,000,000 and to use reasonable efforts to cause BTIG to deliver all of the 310,000 Private Placement Units it holds
for cancellation. Further, the Sponsor also agreed, subject to and effective as of the Closing, to irrevocably and unconditionally release
and waive any and all claims it may have against SPAC, Pubco and the Company or their respective affiliates arising on or prior to the
Closing, subject to customary carve-outs.

The Sponsor Support Agreement
and certain of its provisions will terminate and be of no further force or effect upon the earlier to occur of the Closing and the valid
termination of the Business Combination Agreement pursuant to its terms and, if the Business Combination Agreement is terminated pursuant
to its terms, all provisions of the Sponsor Support Agreement will terminate and be of no further force or effect.

The Sponsor Support Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K, and the foregoing description thereof does not purport to be complete and is qualified in its entirety by reference to the full text of the Sponsor Support Agreement and the terms of which are incorporated by reference herein.

Lock-Up Agreements

Concurrently with the Closing,
the SPAC, the Sponsor and the SPAC insiders will enter into a Lock-Up Agreement with Pubco (the “Sponsor Lock-Up Agreement”),
and certain holders of shares of Pubco Stock will also enter into a Lock-Up Agreement with Pubco in substantially the same form as the
Sponsor Lock-Up Agreement (the “Seller Lock-Up Agreement,” collectively with the Sponsor Lock-Up Agreement, the “Lock Up Agreements”), pursuant to which such parties agree that the shares of Pubco Class A Stock received by them in connection
with the Business Combination, and any other securities convertible into or exercisable or exchangeable for Pubco Stock, will be subject
to transfer restrictions, as described below, with certain customary exceptions.

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Under the Lock-Up Agreements,
the Restricted Securities (as defined therein) will be subject to transfer restrictions until the earlier of (i) 180 days following the
date of the Closing (the “Ann