Company: MLAC
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001213900-25-025105
Chunk: 257

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 1A
Chunk 257
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. On the liquidation of our trust account, our public shareholders may receive only approximately
$10.05, or less in certain circumstances, and our rights will expire worthless. Changes in laws or regulations or in how such laws or
regulations are interpreted or applied, or a failure to comply with any laws and regulations, may adversely affect our business, including
our ability to negotiate and complete our initial business combination, and results of operations.

We
are subject to rules and regulations enacted by various national, regional and local governing bodies, including for example, the SEC,
and to new and evolving regulatory measures under applicable law. Compliance with, and monitoring of, applicable laws and regulations
may be difficult, time consuming and costly and our efforts to comply with such new and evolving laws and regulations have resulted in
and are likely to continue to result in, increased general and administrative expenses and a diversion of management time and attention,
In addition, these changes could have a material adverse effect on our business, investments and results of operations.

Moreover,
because these laws, regulations and standards are subject to varying interpretations, their application in practice may evolve over time
as new guidance becomes available. For example, on January 24, 2024, the SEC issued final rules and guidance relating to initial
public offerings and business combination transactions of special purpose acquisition companies, like us, which, among other things,
created new rules and guidance. This evolution may result in continuing uncertainty regarding compliance matters and additional costs
necessitated by ongoing revisions to our disclosure and governance practices. A failure to comply with applicable laws or regulations
and any subsequent changes, as interpreted and applied, could have a material adverse effect on our business, including our ability to
negotiate and complete our initial business combination, and results of operations.

Our
shareholders may be held liable for claims by third parties against us to the extent of distributions received by them upon redemption
of their shares.

If
we are forced to enter into an insolvent liquidation, any distributions received by shareholders could be viewed as an unlawful payment
if it was proved that immediately following the date on which the distribution was made, we were unable to pay our debts as they fall
due in the ordinary course of business. As a result, a liquidator could seek to recover some or all amounts received by our shareholders.
Furthermore, our directors may be viewed as having breached their fiduciary duties to us or our creditors and/or may have acted in bad
faith, thereby exposing themselves and our