Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 165

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1
Chunk 165
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After
our initial business combination, it is possible that a majority of our directors and officers will live outside the United States
and all of our assets will be located outside the United States; therefore, investors may not be able to enforce federal securities
laws or their other legal rights.

It
is possible that after our initial business combination, a majority of our directors and officers will reside outside of the United States
and all of our assets will be located outside of the United States. As a result, it may be difficult, or in some cases not possible,
for investors in the United States to enforce their legal rights, to effect service of process upon all of our directors or officers
or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties on our directors and officers
under United States laws.

If
our initial business combination involves a company organized under the laws of the United States (or any subdivision thereof),
it is possible a U.S. federal excise tax could be imposed on us in connection with any redemptions of our ordinary shares after
or in connection with such initial business combination.

The
Inflation Reduction Act of 2022, which, among other things, imposes a 1% U.S. federal excise tax on certain repurchases
(including redemptions) of stock by publicly traded U.S. corporations after December 31, 2022 (the “Excise Tax”),
subject to certain exceptions. If applicable, the amount of the Excise Tax is generally 1% of the aggregate fair market value of any
stock repurchased by the corporation during a taxable year, net of the aggregate fair market value of certain new stock issuances by
the repurchasing corporation during the same taxable year. The Biden administration has proposed increasing the Excise Tax rate from
1% to 4%; however, it is unclear whether such a change will be enacted and, if enacted, how soon it could take effect.

As
a Cayman Islands exempted company, the Excise Tax is currently not expected to apply to redemptions of our ordinary shares (absent any
regulations or other additional guidance that may be issued in the future).

However,
in connection with an initial business combination involving a company organized under the laws of a state of the United States,
it is possible that we domesticate and continue as a corporation organized under the laws of a state of the United