Horlick Douglas 4
4 · Mountain Lake Acquisition Corp. · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
Mountain Lake Acquisition (MLAC) CFO Douglas Horlick Converts 478,010 Shares
What Happened Douglas (Doug) Horlick, CFO, President and a director of Mountain Lake Acquisition Corp. (MLAC), had 478,010 founder shares converted and exchanged on June 11, 2026 as part of the company’s business combination. The Form 4 shows a derivative conversion (code M) and a disposition to the issuer (code D) for 478,010 shares; no cash price is reported (N/A). This was not an open‑market sale but a conversion/exchange tied to the SPAC merger.
Key Details
- Transaction date: June 11, 2026; Form filed June 15, 2026 (timely file).
- Shares involved: 478,010 Class B/Class A ordinary shares converted/exchanged. Reported price: N/A (no cash proceeds shown).
- Shares owned after transaction: 0 Class A ordinary shares and 0 Class B ordinary shares of MLAC (per footnotes).
- Footnotes: F1 explains automatic Class B→Class A conversion at business combination; F2 states the Reporting Person’s Class A ordinary shares were exchanged into an equal number of Pubco common shares; F3 confirms the Class B conversion and that the Reporting Person now owns zero Class B shares.
- Transaction codes on the filing: M = exercise/conversion of derivative; D = disposition to issuer.
Context These entries reflect the mechanics of a SPAC closing—founder (Class B) shares converting to Class A and then being exchanged into the surviving public company (Pubco) shares—rather than a routine sale on the open market. Retail investors should note this is a structural conversion tied to the business combination, not necessarily an indication of the insider buying or selling for personal liquidity.
Insider Transaction Report
- Disposition to Issuer
Class A ordinary shares, par value $0.0001 per share
[F2]2026-06-11−478,010→ 0 total - Exercise/Conversion
Class B ordinary shares, par value $0.0001 per share
[F1][F3]2026-06-11−478,010→ 0 total→ Class A ordinary shares (478,010 underlying)
Footnotes (3)
- [F1]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 Class B ordinary shares will automatically convert into 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.
- [F2]In connection with the SPAC Merger (as defined in the Business Combination Agreement), an aggregate of 478,010 Class A ordinary shares held by the Reporting Person were exchanged into an equal number of shares of Class A common stock, par value $0.01 per share, of Pubco. Following such transaction, the Reporting Person owns zero Class A ordinary shares.
- [F3]On June 11, 2026, in connection with the consummation of the transactions contemplated by the Business Combination Agreement dated October 1, 2025 (as amended on January 13, 2026 and March 17, 2026, the "Business Combination Agreement" and the transactions contemplated thereto, the "Business Combination"), by and among the Issuer, Avalanche Treasury Corporation, a Delaware corporation ("Pubco") and the other parties thereto, 478,010 Class B ordinary shares were converted into an aggregate of 478,010 Class A ordinary shares (the "Class B Conversion"). Following the Class B Conversion, the Reporting Person owns zero Class B ordinary shares.