Mountain Lake Acquisition Sponsor LLC 4
4 · Mountain Lake Acquisition Corp. · Filed Jun 10, 2026
Research Summary
AI-generated summary of this filing
Mountain Lake Acquisition (MLAC) Sponsor Distributes 2.78M Founder Shares
What Happened
Mountain Lake Acquisition Sponsor LLC, the sponsor and a reported 10% owner of Mountain Lake Acquisition Corp. (MLAC), effected a disposition on 2026-06-01 consisting of a pro rata distribution of 2,781,776 Class B ordinary ("Founder") shares to its constituent members. This was a distribution (not an open-market sale) and no consideration was paid. The filing shows no per-share price or proceeds (derivative shares; price N/A).
Key Details
- Transaction date: 2026-06-01; Form 4 filed 2026-06-10 (appears later than the typical two-business-day Form 4 deadline).
- Transaction type/code: Other acquisition or disposition (J) — described as a pro rata Sponsor distribution.
- Shares distributed: 2,781,776 Class B ordinary shares; no cash paid.
- Shares held after transaction: Sponsor is the record holder of 4,355,724 Class B ordinary shares after the distribution (per footnote).
- Relevant footnotes: (F3) confirms the distribution was to the Sponsor's constituent members and no consideration was paid; (F1) names members (Paul Grinberg, Douglas Horlick, Jaime W. Vieser) and notes they may be deemed beneficial owners but disclaim ownership except to extent of pecuniary interest; (F2) Class B shares convert 1-for-1 into Class A ordinary shares at the time of an initial business combination (subject to adjustments).
Context
This was an internal reallocation/distribution of founder (Class B) shares by the sponsor to its members, not a sale into the market—such distributions do not directly indicate the market views of executives or a change in economic exposure. The Class B shares are convertible into Class A shares at a future business combination, so the distribution transfers future conversion rights among sponsor members rather than generating immediate liquidity.
Insider Transaction Report
- Other
Class B ordinary shares, par value $0.0001 per share
[F1][F2][F3]2026-06-01−2,781,776→ 4,355,724 total→ Class A ordinary shares (2,781,776 underlying)
Footnotes (3)
- [F1]Following the transactions reported herein, Mountain Lake Acquisition Sponsor LLC (the "Sponsor") is the record holder of 4,355,724 Class B Ordinary Shares of the Issuer (the "Founder Shares"). Each of Paul Grinberg, Douglas Horlick and Jaime W. Vieser are members of the Sponsor. Messrs. Grinberg and Horlick are managing members of the Sponsor and hold voting and investment discretion with respect to the Founder Shares. As such, Mr. Grinberg, Mr. Horlick and Mr. Vieser may be deemed to have beneficial ownership of the Founder Shares held of record by the Sponsor. Mr. Grinberg, Mr. Horlick and Mr. Vieser disclaim any beneficial ownership except to the extent of their pecuniary interest therein.
- [F2]As described in the registration statement on Form S-1 (File No. 333-281410) of the Issuer under the heading "Description of Securities--Founder Shares," the shares of Class B Ordinary Shares will automatically convert into shares of Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments.
- [F3]Represents pro rata distribution of an aggregate of 2,781,776 Class B Ordinary Shares by the Sponsor to its constituent members (the "Sponsor Distribution"). No consideration was paid in connection with the transaction reported herein..