{"url_path":"/sec/mlac/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/2029492/0001213900-26-057775-index.html","accession_number":"0001213900-26-057775","cik":"0002029492","ticker":"MLAC","issuer_name":"Mountain Lake Acquisition Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2029492/0001213900-26-057775-index.html","primary_entity_key":"0002029492","primary_entity_name":"Mountain Lake Acquisition Corp."},"word_count":984,"has_tables":true,"body_markdown":"mlac-20260331\n\nhttp://fasb.org/srt/2026#ChiefExecutiveOfficerMember\n--12-31\n\n0002029492\nQ1\nfalse\n\n0002029492\n\n2026-01-01\n2026-03-31\n\n0002029492\n\n2025-01-01\n2025-03-31\n\n0002029492\n\n2025-12-31\n\n0002029492\n\n2026-03-31\n\n0002029492\n\nus-gaap:USTreasurySecuritiesMember\n\n2025-12-31\n\n0002029492\n\nus-gaap:CashMember\n\n2025-12-31\n\n0002029492\n\nus-gaap:USTreasurySecuritiesMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:CashMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:CommonClassAMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:CommonClassBMember\n\n2025-12-31\n\n0002029492\n\nus-gaap:CommonClassBMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:CommonClassBMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:CommonClassAMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:CommonClassAMember\n\n2025-12-31\n\n0002029492\n\nmlac:AstralHorizonLPMember\n\n2025-10-01\n2025-10-01\n\n0002029492\n\nmlac:TokenSaleAgreementMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:PubCompanyMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:PrivatePlacementMember\n\n2026-03-31\n\n0002029492\n\nmlac:UnderwritingAgreementMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:UnderwritingAgreementMember\n\n2025-10-01\n\n0002029492\n\nus-gaap:OverAllotmentOptionMember\nmlac:UnderwritingAgreementMember\n\n2024-12-16\n\n0002029492\n\nus-gaap:OverAllotmentOptionMember\nmlac:UnderwritingAgreementMember\n\n2024-12-16\n2024-12-16\n\n0002029492\n\nus-gaap:IPOMember\nmlac:UnderwritingAgreementMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:ServicesAgreementMember\nsrt:ChiefFinancialOfficerMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:RelatedPartyMember\nmlac:WorkingCapitalLoansMember\n\n2026-03-31\n\n0002029492\n\nmlac:WorkingCapitalLoansMember\n\n2026-03-31\n\n0002029492\n\n2024-12-31\n2024-12-31\n\n0002029492\n\n2024-09-23\n\n0002029492\n\n2024-06-27\n\n0002029492\n\nus-gaap:RelatedPartyMember\n\n2025-12-31\n\n0002029492\n\nus-gaap:RelatedPartyMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:OverAllotmentOptionMember\n\n2024-12-16\n2024-12-16\n\n0002029492\n\nmlac:FounderShares1Member\n\n2024-12-12\n2024-12-12\n\n0002029492\n\nmlac:SponsorMember\n\n2024-12-12\n2024-12-12\n\n0002029492\n\nus-gaap:CommonClassBMember\nmlac:FounderShares1Member\n\n2024-06-27\n2024-06-27\n\n0002029492\n\nus-gaap:CommonClassAMember\nmlac:FounderShares1Member\n\n2024-06-27\n2024-06-27\n\n0002029492\n\nus-gaap:PrivatePlacementMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:BTIGMember\nus-gaap:PrivatePlacementMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:SponsorMember\nus-gaap:PrivatePlacementMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:IPOMember\n\n2024-12-16\n2024-12-16\n\n0002029492\n\nus-gaap:OverAllotmentOptionMember\n\n2024-12-16\n\n0002029492\n\nus-gaap:CommonClassBMember\n\n2025-01-01\n2025-03-31\n\n0002029492\n\nus-gaap:CommonClassAMember\n\n2025-01-01\n2025-03-31\n\n0002029492\n\nmlac:ClassAOrdinarySharesMember\n\n2026-03-31\n\n0002029492\n\nmlac:ClassAOrdinarySharesMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:ClassAOrdinarySharesMember\n\n2025-12-31\n\n0002029492\n\nmlac:ClassAOrdinarySharesMember\n\n2025-01-01\n2025-12-31\n\n0002029492\n\nmlac:ClassAOrdinarySharesMember\n\n2024-12-31\n\n0002029492\n\nmlac:TrustAccountMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:TrustAccountMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:IPOMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:IPOMember\n\n2024-12-16\n\n0002029492\n\nus-gaap:IPOMember\n\n2026-03-31\n\n0002029492\n\n2025-10-01\n\n0002029492\n\n2025-10-01\n2025-10-01\n\n0002029492\n\nmlac:UnderwritingAgreementMember\nus-gaap:PrivatePlacementMember\n\n2024-12-16\n2024-12-16\n\n0002029492\n\nmlac:UnderwritingAgreementMember\nus-gaap:PrivatePlacementMember\n\n2024-12-16\n\n0002029492\n\nmlac:UnderwritingAgreementMember\nus-gaap:OverAllotmentOptionMember\n\n2024-12-16\n2024-12-16\n\n0002029492\n\nmlac:UnderwritingAgreementMember\nus-gaap:OverAllotmentOptionMember\n\n2024-12-16\n\n0002029492\n\nmlac:UnderwritingAgreementMember\nus-gaap:IPOMember\n\n2024-12-16\n2024-12-16\n\n0002029492\n\n2025-03-31\n\n0002029492\n\n2024-12-31\n\n0002029492\n\nus-gaap:RetainedEarningsMember\n\n2025-03-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassBMember\n\n2025-03-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassAMember\n\n2025-03-31\n\n0002029492\n\nus-gaap:RetainedEarningsMember\n\n2025-01-01\n2025-03-31\n\n0002029492\n\nus-gaap:RetainedEarningsMember\n\n2024-12-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassBMember\n\n2024-12-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassAMember\n\n2024-12-31\n\n0002029492\n\nus-gaap:RetainedEarningsMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassBMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassAMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:RetainedEarningsMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:RetainedEarningsMember\n\n2025-12-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassBMember\n\n2025-12-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassAMember\n\n2025-12-31\n\n0002029492\n\nus-gaap:CommonClassBMember\n\n2026-05-14\n\n0002029492\n\nus-gaap:CommonClassAMember\n\n2026-05-14\n\n0002029492\n\nmlac:RightMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:ClassAOrdinaryShareParValue00001PerShareMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nmlac:UnitsEachConsistingOfOneClassAOrdinaryShareParValue00001PerShareAndOneRightEntitlingTheHolderToReceiveOnetenthOfAClassAOrdinaryShareMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-12-31\n\n0002029492\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2024-12-31\n\n0002029492\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-03-31\n\n0002029492\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-03-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassAMember\n\n2025-01-01\n2025-03-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassBMember\n\n2025-01-01\n2025-03-31\n\n0002029492\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-01-01\n2025-03-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassAMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:CommonStockMember\nus-gaap:CommonClassBMember\n\n2026-01-01\n2026-03-31\n\n0002029492\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-01-01\n2026-03-31\n\niso4217:USD\n\nmlac:Segments\n\nxbrli:shares\n\nxbrli:pure\n\niso4217:USD\n\nxbrli:shares\n\n \n\n \n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n \n\nFORM 10-Q\n\n \n\n(MARK ONE)\n\n☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the quarter ended March 31, 2026\n\n \n\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the transition period from                    to                       \n\n \n\nCommission file number: 001-42436\n\n \n\nMOUNTAIN LAKE ACQUISITION CORP.\n\n(Exact Name of Registrant as Specified in Its\nCharter)\n\n \n\nCayman Islands 98-1796213\n\n(State\nor other jurisdiction of\n\nincorporation or organization)\n \n(I.R.S.\nEmployer\n\nIdentification No.)\n\n \n\n930 Tahoe Blvd STE 802 PMB 45\n\nIncline Village, NV 89451\n\n(Address of principal executive offices)\n\n \n\n(775) 204-1489\n\n(Issuer’s telephone number)\n\n \n\nSecurities registered pursuant to Section 12(b)\nof the Act:\n\n \n\nTitle\nof each class\n \nTrading\nSymbols\n \nName\nof each exchange on which registered\n\nUnits, each consisting of one Class A Ordinary Share, par value $0.0001 per share, and one Right entitling the holder to receive one-tenth of a Class A Ordinary Share MLACU The Nasdaq Stock Market LLC\n\nClass A Ordinary Share, par value $0.0001 per share MLAC The Nasdaq Stock Market LLC\n\nRights MLACR The Nasdaq Stock Market LLC\n\n \n\nCheck whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant\nis a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.\nSee definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and\n“emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated\nfiler\n☐\n \nAccelerated\nfiler\n☐\n\nNon-accelerated filer☒ Smaller reporting company☒\n\n  Emerging growth company☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒  No ☐\n\n \n\nAs of May 14, 2026, there were 23,805,000 Class A ordinary shares, $0.0001 par value and 7,187,500 Class B ordinary shares, $0.0001 par value, issued and outstanding.\n\n \n\n \n\n \n\n \n\n \n\n \n\nMOUNTAIN LAKE ACQUISITION CORP.\n\n \n\nFORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026 \n\n \n\nTABLE OF CONTENTS \n\n \n\n \n \nPage\n\n[Part\nI. Financial Information](#a_001)\n \n \n\n[Item 1. Interim Financial Statements](#a_018)\n \n \n\n[Condensed Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 2025](#a_019)\n \n1\n\n[Condensed\nStatements of Operations for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#a_002)\n \n2\n\n[Condensed\nStatements of Changes in Shareholders’ Deficit for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#a_003)\n \n3\n\n[Condensed\nStatements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#a_004)\n \n4\n\n[Notes\nto Condensed Financial Statements (Unaudited)](#a_005)\n \n5\n\n[Item\n2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#a_006)\n \n16\n\n[Item\n3. Quantitative and Qualitative Disclosures About Market Risk](#a_007)\n \n19\n\n[Item\n4. Controls and Procedures](#a_008)\n \n19\n\n[Part\nII. Other Information](#a_009)\n \n \n\n[Item\n1. Legal Proceedings](#a_010)\n \n20\n\n[Item\n1A. Risk Factors](#a_011)\n \n20\n\n[Item\n2. Unregistered Sales of Equity Securities and Use of Proceeds](#a_012)\n \n21\n\n[Item\n3. Defaults Upon Senior Securities](#a_013)\n \n21\n\n[Item\n4. Mine Safety Disclosures](#a_014)\n \n21\n\n[Item\n5. Other Information](#a_015)\n \n21\n\n[Item\n6. Exhibits](#a_016)\n \n22\n\n[Part\nIII. Signatures](#a_017)\n \n23\n\n \n\ni\n\n \n\n \n\nPART I - FINANCIAL INFORMATION"}