Lager Jeffrey Todd 4
4 · Mountain Lake Acquisition Corp. · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
MLAC Director Jeffrey Todd Surrenders/Converts Founder Shares
What Happened
- Jeffrey Todd, a director of Mountain Lake Acquisition Corp. (MLAC), participated in the company's June 11, 2026 business-combination transactions. He surrendered 15,888 Class B (founder) ordinary shares for cancellation for no consideration, and 9,112 Class B shares were converted into 9,112 Class A ordinary shares and then exchanged into 9,112 shares of Pubco (Avalanche Treasury Corporation) common stock in connection with the SPAC merger. No per-share price or cash proceeds are reported (N/A).
Key Details
- Transaction date: June 11, 2026. Form filed June 15, 2026.
- Reported transactions: surrender/cancellation of 15,888 Class B shares (no consideration); conversion of 9,112 Class B → 9,112 Class A; exchange of those 9,112 Class A into 9,112 Pubco common shares.
- Prices/values: Not reported (N/A) — surrender was for no consideration; conversion/exchange were part of the business combination.
- Shares owned after transaction: 0 Class B ordinary shares; 0 Class A ordinary shares (per filing footnotes).
- Footnotes: Transactions were tied to the Business Combination Agreement (and sponsor support agreement) and the SPAC merger; founder shares convert one‑for‑one into Class A prior to or at the initial business combination.
- Filing timing: Form 4 was filed four days after the transactions; this appears to reflect routine reporting of the closing transactions (check timing relative to SEC filing rules if timeliness is a concern).
Context
- These actions were corporate-transaction driven (founder-share surrender and conversion in the SPAC/business-combination process), not open-market buys or sales. Such transactions reflect structural changes from the merger rather than trading for personal liquidity or investment signal.
- For clarity: the Class B founder shares typically convert into Class A at the deal closing; the converted Class A shares were then exchanged into Pubco common stock as part of the SPAC merger mechanics.
Insider Transaction Report
Form 4Exit
Lager Jeffrey Todd
Director
Transactions
- Exercise/Conversion
Class A ordinary shares, par value $0.0001 per share
[F2]2026-06-11+9,112→ 9,112 total - Disposition to Issuer
Class A ordinary shares, par value $0.0001 per share
[F3]2026-06-11−9,112→ 0 total - Disposition to Issuer
Class B ordinary shares, par value $0.0001 per share
[F1][F2]2026-06-11−15,888→ 9,112 total→ Class A ordinary shares (15,888 underlying) - Exercise/Conversion
Class B ordinary shares, par value $0.0001 per share
[F2]2026-06-11−9,112→ 0 total→ Class A ordinary shares (9,112 underlying)
Footnotes (3)
- [F1]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, and certain Sponsor Support Agreement dated as of October 1, 2025, by and among the Issuer, Pubco and Mountain Lake Acquisition Sponsor LLC (the "Sponsor"), an aggregate of 15,888 Class B ordinary shares held by the Reporting Person were surrendered for cancellation by the Reporting Person to the Issuer for no consideration.
- [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 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. In connection with the consummation of the Business Combination, and immediately following the surrender, 9,112 Class B ordinary shares were converted into an aggregate of 9,112 Class A ordinary shares (the "Class B Conversion"). Following the Class B Conversion, the Reporting Person owns zero Class B ordinary shares.
- [F3]In connection with the SPAC Merger (as defined in the Business Combination Agreement), an aggregate of 9,112 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.
Signature
/s/ Jeffrey T. Lager|2026-06-15