Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 112

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 112
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 initial business combination.

In
recent years, the number of special purpose acquisition companies that have been formed has increased substantially. Many potential
targets for special purpose acquisition companies have already entered into an initial business combination, and there are still many
special purpose acquisition companies preparing for an initial public offering, as well as many such companies currently in registration.
As a result, at times, fewer attractive targets may be available to consummate an initial business combination.

In
addition, because there are more special purpose acquisition companies seeking to enter into an initial business combination with available
targets, the competition for available targets with attractive fundamentals or business models may increase, which could cause targets
companies to demand improved financial terms. Attractive deals could also become scarcer for other reasons, such as economic or industry
sector downturns, geopolitical tensions, or increases in the cost of additional capital needed to close business combinations or operate
targets post-business combination. This could increase the cost of, delay or otherwise complicate or frustrate our ability to find
and consummate an initial business combination, and may result in our inability to consummate an initial business combination on terms
favorable to our investors altogether.

If
the net proceeds of the initial public offering not being held in the trust account are insufficient to allow us to operate for at least
the duration of the completion window, it could limit the amount available to fund our search for a target business or businesses and
complete our initial business combination, and we will depend on loans from our sponsor or management team to fund our search and to
complete our initial business combination.

Of
the net proceeds of the initial public offering, only $1,383,392 will be available to us initially outside the trust account to fund
our working capital requirements. We believe that the funds available to us outside of the trust account will be sufficient to allow
us to operate for at least the duration of the completion window; however, we cannot assure you that our estimate is accurate. Of the
funds available to us, we could use a portion of the funds available to us to pay fees to consultants to assist us with our search for
a target business. We could also use a portion of the funds as a down payment or to fund a “no-shop” provision (a provision
in letters of intent or merger agreements designed to keep target businesses from “shopping” around for transactions with
other companies or investors on terms more favorable to such target businesses) with respect to a particular proposed business combination,
although