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Mountain Lake Acquisition Corp. Announces Pricing of Initial Public Offering of 21 Million Units

Mountain Lake Acquisition Corp. Announces Pricing of Initial Public Offering of 21 Million Units

Mountain Lake Acquisition Corp. 宣佈首次公開募股2100萬單位的定價
Quiver Quantitative ·  12/13 09:30

Mountain Lake Acquisition Corp. announces IPO pricing of 21 million units at $10 each, trading on Nasdaq starts December 13, 2024.

Quiver AI Summary

Mountain Lake Acquisition Corp. announced the pricing of its initial public offering (IPO) of 21,000,000 units at $10.00 per unit, set to begin trading on Nasdaq under the ticker symbol "MLACU" on December 13, 2024. Each unit includes one Class A ordinary share and one right, with rights allowing holders to receive a fraction of a share upon an initial business combination. The IPO is expected to close on December 16, 2024, subject to standard closing conditions, and underwriters have a 45-day option for additional units. The company aims to pursue business combinations with established firms, led by a management team including CEO Paul Grinberg and CFO Douglas Horlick. The offering is guided by BTIG, LLC, and all transactions will comply with applicable securities laws. Forward-looking statements caution that the IPO and subsequent business combination are subject to risks and uncertainties.

Potential Positives

  • Pricing of 21,000,000 units at $10.00 each for initial public offering is a significant milestone indicating market confidence.
  • The units are expected to be traded on Nasdaq under the ticker symbol "MLACU," which enhances visibility and credibility in the market.
  • The company granted underwriters a 45-day option to purchase up to an additional 3,150,000 units, providing potential for increased capital and investor interest.
  • The structure of units, including Class A ordinary shares and rights, can appeal to a wide range of investors, potentially boosting demand.

Potential Negatives

  • The company is a blank check company, which carries inherent risks for investors due to the lack of a specific target business at the time of the offering.
  • The forward-looking statements include uncertainties about the completion of the offering and its ultimate use of proceeds, indicating potential volatility and risk for investors.
  • The disclosure of a 45-day option for underwriters to purchase additional units raises concerns about potential dilution of shares for existing investors.

FAQ

What is Mountain Lake Acquisition Corp.'s IPO price?

Mountain Lake Acquisition Corp. has priced its initial public offering at $10.00 per unit.

When will MLACU begin trading on Nasdaq?

The units are expected to begin trading on Nasdaq on December 13, 2024.

What does each unit in the IPO consist of?

Each unit consists of one Class A ordinary share and one right.

How can investors acquire the prospectus for the offering?

Investors can obtain the prospectus from BTIG, LLC or access it via the SEC's website.

What is the focus of Mountain Lake Acquisition Corp.?

The Company aims to complete a business combination with an established business poised for growth.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.


Full Release



NEVADA, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Mountain Lake Acquisition Corp. (the "Company") announced today the pricing of its initial public offering of 21,000,000 units at a price of $10.00 per unit. The units are expected to be listed on The Nasdaq Stock Market LLC ("Nasdaq") and begin trading tomorrow, December 13, 2024, under the ticker symbol "MLACU." Each unit consists of one Class A ordinary share and one right. Each right entitles the holder thereof to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of an initial business combination. A right holder must hold ten rights to receive one Class A ordinary share at the closing of the initial business combination. Once the securities constituting the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols "MLAC" and "MLACR," respectively. The offering is expected to close on December 16, 2024, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,150,000 units at the initial public offering price to cover over-allotments, if any.



The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination target in any business or industry or at any stage of its corporate evolution. The Company's primary focus will be in completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.



The Company's management team is led by Paul Grinberg, its Chief Executive Officer and Chairman of the Board of Directors of the Company (the "Board"), and Douglas Horlick, Chief Financial Officer, Director, and President. In addition, the Board includes Jeffrey Lager, Michael Marquez, and Jaime W. Vieser.



BTIG, LLC is acting as sole book-running manager for the offering.



The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at

ProspectusDelivery@btig.com

or by accessing the SEC's website,

www.sec.gov

.



A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective on December 12, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.




Forward-Looking Statements



This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds will be used as indicated.



Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's registration statement and prospectus for the Company's initial public offering filed with the SEC. Copies of these documents are available on the SEC's website,

www.sec.gov

. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.




Investor Contacts



Douglas Horlick

doug@mountainlakeacquisition.com

Mountain Lake Acquisition Corp.
930 Tahoe Blvd STE 802 PMB 45
Incline Village, NV 89451
(775) 204-1489



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