Mountain Lake Acquisition Corp. II Announces Closing of Upsized $360 Million Initial Public Offering

Rhea-AI Summary

Mountain Lake Acquisition Corp. II (Nasdaq: MLAA) closed an upsized initial public offering of 36,000,000 units at $10.00 per unit, including a 4,680,000-unit partial exercise of the underwriters' over-allotment option, producing $360,000,000 in gross proceeds.

Units began trading on the Nasdaq Global Market as MLAAU on January 27, 2026; separated Class A shares and warrants are expected to trade as MLAA and MLAAW. Each whole warrant is exercisable for one share at $11.50. BTIG acted as sole book-running manager and the SEC declared the registration effective January 26, 2026.

Positive

• Raised $360,000,000 in gross proceeds from the IPO
• Upsized issuance included 4,680,000 units from over-allotment
• Nasdaq listing commenced—units trading as MLAAU on January 27, 2026
• Warrants exercisable at $11.50 per share, providing future capital potential

Negative

• Potential share dilution if warrants are exercised into Class A ordinary shares at $11.50
• Only whole warrants will be issued or trade; fractional warrants will not be provided

News Market Reaction – MLAAU

-0.05%

1 alert

-0.05% News Effect

On the day this news was published, MLAAU declined 0.05%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Incline Village, NV, Jan. 28, 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 closing of its upsized initial public offering of 36,000,000 units, which includes 4,680,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option, at an offering price of $10.00 per unit, resulting in gross proceeds of $360,000,000.

The units began trading on the Global Market tier of the Nasdaq Stock Market (“Nasdaq”) under the ticker symbol “MLAAU” on January 27, 2026. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at $11.50 per share. 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.

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 was made only by means of a prospectus copies of which 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
Email: doug@mountainlakeacquisition.com

FAQ

How many units did Mountain Lake Acquisition Corp. II (MLAA) sell in its IPO?

The company sold 36,000,000 units in the IPO, including the over-allotment partial exercise. According to the company, 4,680,000 of those units were issued under the underwriters' over-allotment option, bringing total gross proceeds to $360,000,000.

What is the offering price and total proceeds for MLAA's January 2026 IPO?

The offering price was $10.00 per unit, producing $360,000,000 gross proceeds. According to the company, the figure reflects the upsized issuance including the partial exercise of the underwriters' over-allotment option.

When did MLAA units begin trading and what are the ticker symbols?

Units began trading on Nasdaq as MLAAU on January 27, 2026. According to the company, once securities separate, Class A shares and warrants are expected to trade as MLAA and MLAAW, respectively.

What does each MLAA unit include and what are the warrant terms?

Each unit comprises one Class A ordinary share and one-half warrant; one whole warrant buys one share at $11.50. According to the company, only whole warrants will be issued and trade after separation.

Who managed the MLAA IPO and when was the registration declared effective?

BTIG acted as sole book-running manager for the offering. According to the company, the SEC declared the related registration statement effective on January 26, 2026.

Did MLAA exercise an over-allotment option in its IPO?

Yes, the IPO included a partial exercise of the underwriters' over-allotment option for 4,680,000 units. According to the company, that exercise contributed to the upsized 36,000,000-unit issuance.