Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 171

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 171
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 $20,000 per month for office space,
secretarial and administrative services provided to members of our management team. Upon completion of our initial business combination
or our liquidation, we will cease paying these monthly fees.

Item 3. Legal Proceedings.

There
is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management team
in their capacity as such.

Item 4. Mine Safety Disclosures.

None.

56

PART II

Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities.

Market Information.

Our units, Class A Ordinary Shares and rights are traded on The New
York Stock Exchange under the symbols “MLACU,” “MLAC” and “MLACR,” respectively. Our units commenced
public trading on December 16, 2024, and our Class A Ordinary Shares and rights commenced public trading on February 3, 2025.

Holders

As of March 1, 2025, there was one holder of record
of our Units, one holder of record of our Class A Ordinary Shares, three holders of record of our Class B common shares and one holders
of record of our rights.

Dividends

We have not paid any cash dividends on our common
shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash
dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition
subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination
will be within the discretion of our Board of Directors at such time. In addition, our Board of Directors is not currently contemplating
and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness in connection with
our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection
therewith.

Securities Authorized for Issuance Under Equity Compensation Plans

None.

Recent Sales of Unregistered Securities; Use of Proceeds from Registered
Securities

On December 16, 2024, our sponsor surrendered 359,375
founder shares for no consideration, as a result of the underwriters’ partial exercise of their over-allotment option in our initial
public offering, resulting in 7,187,500 founder shares outstanding. The