{"url_path":"/sec/mlac/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities","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":437,"has_tables":true,"body_markdown":"Item 2. Unregistered Sales of Equity Securities\nand Use of Proceeds.\n\n \n\nOn December 16, 2024, we consummated the Initial\nPublic Offering of 23,000,000 Units. The Units were sold at an offering price of $10.00 per unit, generating total gross proceeds of\n$230,000,000. The securities in the offering were registered under the Securities Act on registration statement on Form S-1 (No.333-281410).\nThe Securities and Exchange Commission declared the registration statements effective on December 12, 2024.\n\n \n\nSimultaneously with the consummation of the Initial\nPublic Offering, the Sponsor consummated the private placement of an aggregate of 805,000 Units at a price of $10.00 per Private Placement\nUnit with our Sponsor, and BTIG, as representative of the underwriters, generating total proceeds of $8,050,000. Each Unit consists of\none Class A ordinary share and one right to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of the initial\nbusiness combination. The issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities\nAct.\n\n \n\nThe Private Placement Units are identical to\nthe units underlying the Units sold in the Initial Public Offering, except that the Private Placement Units are not transferable, assignable\nor salable until after the completion of a Business Combination, subject to certain limited exceptions.\n\n \n\nOn December 13, 2024, the underwriters exercised\nthe over-allotment option partially to purchase an additional 2,000,000 Units. On December 16, 2024, the Company consummated the IPO\nof 23,000,000 units (the “Units”). Each Unit consists of one Class A ordinary share, $0.0001 par value (“Class A Ordinary\nShare”) and one right to receive one-tenth (1/10) of one Class A Ordinary Share upon the consummation of an initial business combination.\nThe Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $230,000,000. A total of $231,150,000 of the\nnet proceeds from the IPO (including the over-allotment Units) and the Private Placement (as defined below) were deposited in a trust\naccount established for the benefit of the Company’s public shareholders.\n\n \n\nWe paid a total of $4,600,000 in underwriting\ndiscounts and commissions and $704,261 for other costs and expenses related to the Initial Public Offering. In addition, the underwriters\nagreed to defer $8,050,000 in underwriting discounts and commissions. On October 1, 2025, we amended the Underwriting Agreement such\nthat we will only owe $1,000,000 in underwriting discounts and commissions if the Business Combination is consummated. See “Management’s\nDiscussion and Analysis of Financial Condition and Results of Operations – Contractual Obligations” section above.\n\n \n\nFor a description of the use of the proceeds\ngenerated in our Initial Public Offering, see Part I, Item 2 of this Form 10-Q."}