Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 525

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 2
Chunk 525
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 such transfer restrictions as the lock-up. Notwithstanding
the foregoing, if (1) the closing price of our Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for
share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any
30-trading day period commencing at least 150 days after our initial business combination or (2) if we consummate a transaction
after our initial business combination which results in our shareholders having the right to exchange their shares for cash, securities
or other property, the founder shares will be released from the lock-up. Because each of our executive officers and directors will own
ordinary shares or rights directly or indirectly, they may have a conflict of interest in determining whether a particular target business
is an appropriate business with which to effectuate our initial business combination.

●In the event our sponsor or an affiliate of sponsor or certain
of our officers and directors provides loans to us to finance transaction costs and/or incur expenses on our behalf in connection with
an initial business combination, such persons may have a conflict of interest in determining whether a particular target business is
an appropriate business with which to effectuate our initial business combination as such loans may not be repaid and/or such expenses
may not be reimbursed unless we consummate such business combination.

●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 was included
by a target business as a condition to any agreement with respect to our initial business combination.

We are not prohibited
from pursuing an initial business combination with a business combination target that is affiliated with our sponsor, officers or
directors or completing the business combination through a joint venture or other form of shared ownership with our sponsor,
officers or directors. In the event we seek to complete our initial business combination with a business combination target that is
affiliated with our sponsor, executive officers or directors, we, or a committee of independent directors, would obtain an opinion
from an independent investment banking which is a member of FINRA or a valuation or appraisal firm, that such initial business
combination is fair to our company from a financial point of view. We are not required to obtain such an opinion in any other
context. Furthermore, in no event will our sponsor or any of our existing officers or directors, or any of their respective
affili