Mountain Lake Acquisition Corp. 8-K

What Happened

• Mountain Lake Acquisition Corp. (MLAC) filed an 8-K on June 5, 2026 reporting that shareholders voted to approve the Business Combination Agreement with Avalanche Treasury Corporation (Pubco) and related transactions, including the domestication to Delaware and the MLAC merger. The definitive proxy was filed May 14, 2026 and the Meeting record date was April 15, 2026.
• All material proposals needed for the transaction passed by the votes reported (e.g., Proposal 1 and 2 — Business Combination and MLAC Merger — each: For 27,081,231; Against 400,898; Abstain 4,598). Because of the sufficient votes, the planned adjournment was not held.

Key Details

• Redemptions: MLAC shareholders redeemed 22,846,470 ordinary shares for approximately $243,227,457.91 (about $10.65 per share) to be removed from the Trust Account. After redemptions, MLAC will have 153,830 Public Shares outstanding.
• Corporate changes approved: Domestication from the Cayman Islands to Delaware; approval of Pubco’s proposed charter/bylaws and Nasdaq-related issuances (per Nasdaq Rule 5635) to issue Pubco Class A and Class B stock in connection with the Business Combination and related transactions.
• Sponsor distribution (Item 8.01): On June 1, 2026, Mountain Lake Acquisition Sponsor LLC distributed 2,781,776 MLAC Class B ordinary shares to its members; the Sponsor now holds 4,355,724 Class B shares. Paul Grinberg, Douglas Horlick and Jaime W. Vieser each received 478,010 Class B shares in that distribution.
• Director vote: Two directors were elected; director vote totals included 26,501,879 "For All" and 984,848 "Withhold All."

Why It Matters

• The shareholder approvals clear the way for MLAC’s planned business combination with Avalanche (the Mergers and related transactions) and the domestication to Delaware, which are central steps for the deal to close. Approvals related to Nasdaq Rule 5635 allow the planned equity issuances tied to the transaction.
• The large redemptions (~$243.2M removed from the Trust Account and a greatly reduced public float to 153,830 Public Shares) materially reduce the cash held in trust that will remain at closing and significantly lower the number of public shares outstanding — factors investors should watch when assessing post‑closing capital structure and liquidity.
• The sponsor share distribution changes insider ownership of Class B shares but leaves the Sponsor with a substantial Class B stake (4,355,724 shares), which may affect post‑closing control and voting dynamics.