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].
Mountain Lake Acquisition Corp.(MLACU) - 2025 Q2 - Quarterly Report