Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,133,281, primarily from interest income on marketable securities held in the Trust Account of $2,527,476, offset by general and administrative expenses of $394,195[120]. - For the nine months ended September 30, 2025, the company achieved a net income of $6,348,172, with interest income of $7,258,722 and general and administrative expenses totaling $910,550[120]. Initial Public Offering - The company completed its Initial Public Offering on December 16, 2024, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units at $10.00 per Unit[122]. - A total of $231,150,000 was placed in the Trust Account following the Initial Public Offering and the sale of Private Placement Units, after incurring $13,354,261 in offering costs[123]. Trust Account and Cash Position - As of September 30, 2025, the company had cash and marketable securities in the Trust Account amounting to $238,902,575, including approximately $7,752,575 of interest income[127]. - The company plans to use substantially all funds in the Trust Account to complete the Business Combination and may withdraw interest to pay taxes[127]. Business Combination - The company entered into a Business Combination Agreement with Avalanche Treasury Corporation on October 1, 2025, to pursue a Proposed Business Combination[114]. Operational Concerns - The company has no revenues to date and does not expect to generate operating revenues until after completing a Business Combination[119]. - The company lacks the financial resources to sustain operations for a reasonable period, raising substantial doubt about its ability to continue as a going concern[130]. Executive Services Fees - The company incurred $60,000 and $180,000 in fees for executive services for the three and nine months ended September 30, 2025, respectively[132].

Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $2,196,370, primarily from interest income of $2,391,942 on marketable securities[109]. - For the six months ended June 30, 2025, the company achieved a net income of $4,214,891, with interest income of $4,731,246 offset by operating costs of $516,355[109]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on December 16, 2024, raising gross proceeds of $230,000,000 from 23,000,000 Units sold at $10.00 per Unit[111]. - A total of $231,150,000 was placed in the Trust Account after the IPO and the sale of Private Placement Units, with $13,354,261 incurred in offering costs[112]. Trust Account and Cash Holdings - As of June 30, 2025, the company held cash and marketable securities in the Trust Account amounting to $236,375,099, including approximately $5,225,099 of interest income[115]. - The company had cash of $1,160,883 held outside the Trust Account, intended for identifying and evaluating target businesses[116]. Expenses and Fees - The company incurred $60,000 and $120,000 in fees for executive services for the three and six months ended June 30, 2025, respectively[120]. - The underwriters are entitled to a deferred underwriting fee of $0.35 per Unit, totaling $8,050,000, payable only if a Business Combination is completed[121]. Business Operations - The company has no off-balance sheet financing arrangements or long-term liabilities as of June 30, 2025[119]. - The company does not expect to generate operating revenues until after the completion of a Business Combination[108].

Part I. Financial Information [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Mountain Lake Acquisition Corp. reported a net income of **$2.02 million** for Q1 2025, primarily from Trust Account interest, with total assets reaching **$235.4 million** [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) Total assets increased to **$235.4 million** by March 31, 2025, primarily due to growth in Trust Account holdings, with total liabilities at **$8.2 million** Condensed Balance Sheet Data (Unaudited) | Account | March 31, 2025 (USD) | December 31, 2024 (USD) | | :--- | :--- | :--- | | **Assets** | | | | Cash | $1,221,107 | $1,383,392 | | Cash and marketable securities held in Trust Account | $233,983,157 | $231,643,853 | | **Total Assets** | **$235,375,465** | **$233,231,190** | | **Liabilities & Equity** | | | | Total Liabilities | $8,193,088 | $8,067,334 | | Class A ordinary shares subject to possible redemption | $233,983,157 | $231,643,853 | | Total Shareholders' Deficit | ($6,800,780) | ($6,479,997) | [Condensed Statement of Operations](index=5&type=section&id=Condensed%20Statement%20of%20Operations) Net income for the three months ended March 31, 2025, was **$2.02 million**, driven by **$2.34 million** in Trust Account interest income Statement of Operations Highlights (For the Three Months Ended March 31, 2025) | Item | Amount (USD) | | :--- | :--- | | Interest earned on marketable securities held in Trust Account | $2,339,304 | | Operating and formation costs | $320,783 | | **Net income** | **$2,018,521** | | Basic and diluted net income per share, Class A | $0.07 | | Basic and diluted net loss per share, Class B | $0.07 | [Condensed Statement of Changes in Shareholders' Deficit](index=6&type=section&id=Condensed%20Statement%20of%20Changes%20in%20Shareholders'%20Deficit) Shareholders' deficit increased to **$6.80 million** by March 31, 2025, due to accretion of redeemable shares, partially offset by net income - The shareholders' deficit increased by **$320,783** during the quarter, reflecting the net effect of net income and the accretion of redeemable shares[15](index=15&type=chunk) [Condensed Statement of Cash Flows](index=7&type=section&id=Condensed%20Statement%20of%20Cash%20Flows) Net cash used in operating activities was **$162,285** for the quarter, resulting in a cash balance of **$1.22 million** at period-end Cash Flow Summary (For the Three Months Ended March 31, 2025) | Item | Amount (USD) | | :--- | :--- | | Net cash used in operating activities | ($162,285) | | Cash – Beginning of period | $1,383,392 | | **Cash – End of period** | **$1,221,107** | [Notes to Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) Notes detail the company's blank check status, **$230 million** IPO proceeds, **$231.15 million** trust account placement, and **$8.05 million** deferred underwriting fee - The Company is a blank check company incorporated on June 14, 2024, for the purpose of effecting a business combination. All activity to date relates to its formation and the Initial Public Offering[20](index=20&type=chunk)[21](index=21&type=chunk) - On December 16, 2024, the Company consummated its IPO of **23,000,000 units** at **$10.00 per unit**, generating gross proceeds of **$230,000,000**. An amount of **$231,150,000** was placed in the Trust Account[22](index=22&type=chunk)[26](index=26&type=chunk) - The company has a commitment for a deferred underwriting fee of **$8,050,000**, which is payable from the Trust Account only upon the completion of a Business Combination[82](index=82&type=chunk) - The company has one reportable operating segment, as the Chief Executive Officer (CODM) reviews operating results for the company as a whole to make decisions[98](index=98&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management confirms the company's blank check status, reporting **$2.02 million** net income from Trust Account interest, with **$1.22 million** cash for operations - The company's activities since inception on June 14, 2024, have been limited to organizational activities, preparing for the IPO, and identifying a target for a Business Combination[104](index=104&type=chunk)[106](index=106&type=chunk) Q1 2025 Financial Results Summary | Metric | Amount (USD) | | :--- | :--- | | Net Income | $2,018,521 | | Interest Income (Trust Account) | $2,339,304 | | Operating Costs | $320,783 | - As of March 31, 2025, the company had **$1,221,107** in cash held outside the Trust Account for working capital and **$233,983,157** held within the Trust Account[111](index=111&type=chunk)[112](index=112&type=chunk) - Contractual obligations include a deferred underwriting fee of **$8,050,000** payable upon a business combination and up to **$20,000 per month** in service fees to executive officers[116](index=116&type=chunk)[117](index=117&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is exempt from providing quantitative and qualitative market risk disclosures - As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk[123](index=123&type=chunk) [Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal controls - Based on an evaluation as of March 31, 2025, the principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective[125](index=125&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, these controls[126](index=126&type=chunk) Part II. Other Information [Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) The company has no legal proceedings to report - None[128](index=128&type=chunk) [Risk Factors](index=31&type=page&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors have occurred - As of the date of this report, there have been no material changes to the risk factors disclosed in the company's Annual Report on Form 10-K[128](index=128&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details **$230 million** IPO proceeds and **$8.05 million** from a private placement of 805,000 units to the Sponsor and BTIG - On December 16, 2024, the company consummated its IPO of **23,000,000 units** at **$10.00 per unit**, generating gross proceeds of **$230,000,000**[129](index=129&type=chunk)[132](index=132&type=chunk) - Simultaneously with the IPO, the Sponsor and BTIG purchased **805,000 private placement units** at **$10.00 per unit**, generating **$8,050,000**. This issuance was exempt from registration under Section 4(a)(2) of the Securities Act[130](index=130&type=chunk) [Defaults Upon Senior Securities](index=31&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company has no defaults upon senior securities to report - None[134](index=134&type=chunk) [Mine Safety Disclosures](index=31&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company has no mine safety disclosures to report - None[134](index=134&type=chunk) [Other Information](index=31&type=section&id=Item%205.%20Other%20Information) The company has no other information to report - None[134](index=134&type=chunk) [Exhibits](index=32&type=section&id=Item%206.%20Exhibits) The report includes various exhibits, such as CEO and CFO certifications and XBRL data files - Exhibits filed include CEO and CFO certifications under SOX Sections 302 and 906, and various XBRL documents[136](index=136&type=chunk) Signatures - The report was signed on May 13, 2025, by Paul Grinberg, Chief Executive Officer, and Douglas Horlick, Chief Financial Officer[140](index=140&type=chunk)

Financial Performance - The company had a net income of $443,117 for the period from June 14, 2024, to December 31, 2024, primarily from interest earned on marketable securities of $493,853, offset by operating expenses of $50,736[334]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $230,000,000 from the sale of 23,000,000 Units at $10.00 per Unit, including a partial exercise of the over-allotment option[335]. - A total of $231,150,000 was placed in the Trust Account after the IPO and the sale of Private Placement Units, with $13,354,261 incurred in offering costs[336]. Trust Account and Cash Management - As of December 31, 2024, the company had cash and marketable securities of $231,643,853 in the Trust Account, which will be used to complete a Business Combination[338]. - The company had cash of $1,383,392 held outside the Trust Account, intended for identifying and evaluating target businesses[339]. Financing Needs - The company may need to obtain additional financing to complete a Business Combination or if a significant number of public shares are redeemed[341]. - The company does not anticipate needing to raise additional funds for operating expenditures prior to the initial Business Combination[341]. Liabilities and Obligations - There are no off-balance sheet financing arrangements or long-term liabilities as of December 31, 2024[342]. - The company has a contractual obligation to pay up to $20,000 per month to its executive officers, with no payments incurred as of December 31, 2024[343]. - The underwriters are entitled to a deferred underwriting fee of $8,050,000, payable only if a Business Combination is completed[344].

As filed with the U.S. Securities and Exchange Commission on December 11, 2024. Registration No. 333-281410 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 6 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ___________________________________________ Mountain Lake Acquisition Corp. (Exact name of registrant as specified in its charter) ___________________________________________ Cayman Islands 6770 98-1796213 (State or other jurisdiction of incorporat ...

As filed with the U.S. Securities and Exchange Commission on December 11, 2024. Registration No. 333-281410 AMENDMENT NO. 5 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ Mountain Lake Acquisition Corp. (Exact name of registrant as specified in its charter) ___________________________________________ Cayman Islands 6770 98-1796213 (State or other jurisdiction of incorporat ...

As filed with the U.S. Securities and Exchange Commission on December 5, 2024. Registration No. 333-281410 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 4 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ___________________________________________ Mountain Lake Acquisition Corp. (Exact name of registrant as specified in its charter) ___________________________________________ Cayman Islands 6770 98-1796213 (State or other jurisdiction of incorporati ...

As filed with the U.S. Securities and Exchange Commission on November 25, 2024. Registration No. 333-281410 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ___________________________________________ Mountain Lake Acquisition Corp. (Exact name of registrant as specified in its charter) ___________________________________________ Cayman Islands 6770 98-1796213 (State or other jurisdiction of incorporat ...

Cayman Islands 6770 98-1796213 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer As filed with the U.S. Securities and Exchange Commission on November 15, 2024. Registration No. 333-281410 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ___________________________________________ Mountain Lake Acquisition Corp. (Exa ...

As filed with the U.S. Securities and Exchange Commission on September 27, 2024. Registration No. 333-281410 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ___________________________________________ Mountain Lake Acquisition Corp. (Exact name of registrant as specified in its charter) ___________________________________________ Cayman Islands 6770 98-1796213 (State or other jurisdiction of incorpora ...