Mountain Lake Acquisition Corp. II Announces the Upsized Pricing of $313.2 Million Initial Public Offering

Rhea-AI Summary

Mountain Lake Acquisition Corp. II (NASDAQ:MLAA) priced an upsized initial public offering of 31,320,000 units at $10.00 per unit, implying gross proceeds of $313.2 million. Each unit contains one Class A ordinary share and one-half of one redeemable warrant; each whole warrant is exercisable at $11.50. Units are expected to begin trading on the Nasdaq Global Market as MLAAU on January 27, 2026; upon separation shares and warrants are expected to trade as MLAA and MLAAW. BTIG is sole book-running manager. The underwriter has a 45-day option to purchase up to an additional 4,698,000 units to cover over-allotments. The offering is expected to close on January 28, 2026, and the registration statement was declared effective by the SEC on January 26, 2026.

Positive

• Offering priced at $313.2 million (31,320,000 units × $10.00)
• Underwriter over-allotment option of 4,698,000 units (45 days)
• Units begin trading as MLAAU on Nasdaq on January 27, 2026

Negative

• Closing is expected but not guaranteed; offer subject to customary closing conditions for January 28, 2026
• Over-allotment option could increase share count by 4,698,000 units, diluting initial unit basis

Incline Village, NV, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Mountain Lake Acquisition Corp. II (the “Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company and led by Chief Executive Officer Paul Grinberg and Chief Financial Officer, Douglas Horlick, today announced the pricing of its upsized initial public offering of 31,320,000 units at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one Class A ordinary share at $11.50 per share. The units are expected to trade on the Global Market tier of the Nasdaq Stock Market (“Nasdaq”) under the ticker symbol “MLAAU” beginning January 27, 2026. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the ordinary shares and the warrants are expected to be traded on Nasdaq under the symbols “MLAA” and “MLAAW,” respectively.

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

The Company has granted the underwriter a 45-day option to purchase up to an additional 4,698,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on January 28, 2026 subject to customary closing conditions.

A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 26, 2026. 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 at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Mountain Lake Acquisition Corp. II

Mountain Lake Acquisition Corp. II is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) 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 of the offering 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 preliminary prospectus for the IPO filed with the SEC. Copies 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.

Contacts:

Douglas Horlick
930 Tahoe Blvd STE 802 PMB 45
Incline Village, NV 89451
Telephone: (775) 204-1489

FAQ

What size offering did Mountain Lake Acquisition Corp. II (MLAA) price on January 27, 2026?

The company priced 31,320,000 units at $10.00 per unit for gross proceeds of $313.2 million.

When will MLAA units and shares begin trading on Nasdaq?

Units are expected to trade as MLAAU beginning January 27, 2026; separated shares and warrants are expected to trade as MLAA and MLAAW.

What does each MLAA unit and warrant include and what is the warrant exercise price?

Each unit includes one Class A share and one-half of a warrant; each whole warrant is exercisable to buy one Class A share at $11.50.

Does MLAA have an over-allotment option and how large is it?

Yes. The underwriter may buy up to an additional 4,698,000 units within 45 days to cover over-allotments.

When is the MLAA offering expected to close and what approvals are in place?

The offering is expected to close on January 28, 2026, and the SEC declared the registration statement effective on January 26, 2026.