Marquez Michael J. 4
4 · Mountain Lake Acquisition Corp. · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
Mountain Lake (MLAC) Director Michael J. Marquez Cancels 15,888 Founder Shares
What Happened
- Michael J. Marquez, a director of Mountain Lake Acquisition Corp. (MLAC), surrendered and converted founder shares in connection with the company's business combination. On June 11, 2026 he surrendered 15,888 Class B (founder) ordinary shares to the issuer for no consideration. Separately, 9,112 Class B shares were converted to 9,112 Class A ordinary shares and those 9,112 Class A ordinary shares were exchanged for 9,112 shares of Pubco (Avalanche Treasury Corporation) Class A common stock as part of the SPAC merger transactions. No per‑share price or cash value was reported (N/A).
Key Details
- Transaction date: June 11, 2026; Form 4 filed June 15, 2026 (appears filed after the 2‑business‑day Form 4 window).
- Actions reported: surrender/cancellation of 15,888 Class B shares (no consideration); conversion of 9,112 Class B → 9,112 Class A → 9,112 Pubco Class A common shares.
- Reported transaction codes: M (exercise/conversion of derivative) and D (disposition to issuer).
- Shares owned after transactions: 0 Class B ordinary shares and 0 Class A ordinary shares of MLAC; 9,112 Pubco Class A common shares received in the exchange.
- Footnotes: Transactions occurred under the Business Combination Agreement (and related Sponsor Support Agreement) and per the issuer’s S‑1, Class B founder shares convert one-for-one into Class A at the initial business combination; the 15,888 surrendered founder shares were cancelled for no consideration.
Context
- These actions reflect customary SPAC combination mechanics (founder share conversion, surrender/cancellation, and exchange into the surviving public company stock), not an open‑market buy or sell. No cash proceeds or market sale price were reported, and the surrender was for no consideration. The filing date is after the reported transaction date, which retail investors may note when assessing timeliness of disclosure.
Insider Transaction Report
Form 4Exit
Marquez Michael J.
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/ Michael J. Marquez|2026-06-15