Mountain Lake Acquisition Sponsor LLC 4

What Happened

• Mountain Lake Acquisition Sponsor LLC (the Sponsor), a 10% owner of Mountain Lake Acquisition Corp. (MLAC), surrendered for cancellation 4,355,724 Class B ordinary shares (derivative/founder shares) and 495,000 private placement units to the issuer on June 11, 2026. The shares/units were surrendered for no consideration in connection with the consummation of the business combination. No price or cash changed hands; total value is reported as N/A. After the surrender, the Sponsor owns zero ordinary shares.

Key Details

• Transaction date: June 11, 2026; Form 4 filed June 15, 2026 (appears to be filed after the typical 2-business-day window).
• Dispositions: 4,355,724 Class B ordinary shares (derivative) and 495,000 private placement units surrendered to the issuer for no consideration (Disposition to issuer).
• Shares owned after transaction: 0 ordinary shares.
• Footnote summary: The surrender occurred as part of the Business Combination Agreement (and related Sponsor Support Agreement) tied to the issuer’s combination with Avalanche Treasury Corporation (Pubco). Class B founder shares convert one-for-one into Class A ordinary shares at the time of the initial business combination (see Form S-1 description).
• Insider type: Sponsor/10% owner (institutional sponsor), not an individual executive—this is corporate reorganization activity, not a routine open-market sale.

Context

• This was not an open-market sale or purchase by the sponsor but a surrender/cancellation required or permitted under the business combination and sponsor agreements; it does not directly signal typical insider buying or selling behavior. The derivative (Class B) shares referenced are founder shares that convert to Class A at the business combination, per the issuer’s registration statement.