Company: MLAC
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042737
Chunk: 95

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 95
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 5,000,000 preference shares with a par value of $0.0001 per share. As of March 31, 2025 and December 31,
2024, there were no preference shares issued or outstanding.

Class A Ordinary Shares — The
Company is authorized to issue 445,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s
Class A ordinary shares are entitled to one vote for each share. At March 31, 2025 and December 31, 2024, there were 805,000 Class A
ordinary shares issued or outstanding, excluding 23,000,000 Class A ordinary shares subject to possible redemption.

Class B Ordinary Shares — The
Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001 per share. Holders of the Class B
ordinary shares are entitled to one vote for each share. At March 31, 2025 and December 31, 2024, there were 7,187,500 Class B ordinary
shares issued and outstanding.

Only holders of Class B ordinary shares will
have the right to vote on the election of directors prior to the Business Combination. Holders of Class A ordinary shares and holders
of Class B ordinary shares will vote together as a single class on all other matters submitted to a vote of the Company’s shareholders
except as otherwise required by law. Ordinary shareholders of record are entitled to one vote for each share held on all matters to be
voted on by shareholders. Holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a
single class on all matters submitted to a vote of the shareholders except as required by law.

12 

MOUNTAIN LAKE ACQUISITION
CORP.

NOTES TO CONDENSED FINANCIAL
STATEMENTS

MARCH 31, 2025

(Unaudited)

The Class B ordinary shares will automatically
convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination
on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations and the
like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares or equity-linked
se