Sponsor for Mountain Lake (NASDAQ: MLAAU) buys 510,000 units

Rhea-AI Filing Summary

Mountain Lake Acquisition Sponsor II LLC reported buying 510,000 private placement units of Mountain Lake Acquisition Corp. II on January 28, 2026 at $10 per unit. Each unit includes one Class A ordinary share and one-half of a warrant.

The purchase results in 510,000 Class A ordinary shares being indirectly beneficially owned through the Sponsor. Each whole warrant is exercisable for one Class A ordinary share at an exercise price of $11.50 per share. The Sponsor is the record holder, while Paul Grinberg and Douglas Horlick, as managing members, report the holdings but disclaim beneficial ownership beyond any pecuniary interest.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Grinberg Paul

(Last) (First) (Middle)

930 TAHOE BLVD STE 802 PMB 45

(Street)

INCLINE VILLAGE NV 89451

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Mountain Lake Acquisition Corp. II [ MLAA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Ordinary Shares	01/28/2026	01/28/2026	P		510,000(1)	A	$10	510,000(1)	I(3)	Through Mountain Lake Acquisition Sponsor II LLC(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Grinberg Paul

(Last) (First) (Middle)

930 TAHOE BLVD STE 802 PMB 45

(Street)

INCLINE VILLAGE NV 89451

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

1. Name and Address of Reporting Person^*

MOUNTAIN LAKE ACQUISITION SPONSOR II LLC

(Last) (First) (Middle)

930 TAHOE BLVD STE 802 PMB 45

(Street)

INCLINE VILLAGE NV 89451

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Horlick Douglas

(Last) (First) (Middle)

C/O MOUNTAIN LAKE ACQUISITION CORP. II

930 TAHOE BLVD STE 802 PMB 45

(Street)

INCLINE VILLAGE NV 89451

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

Explanation of Responses:

1. Reflects the 510,000 Class A ordinary shares of Mountain Lake Acquisition Corp. II (the "Issuer") that are included in the 510,000 private placement units of the Issuer purchased by Mountain Lake Acquisition Sponsor II LLC ("Sponsor"). Each private placement unit was purchased for $10 per unit and consists of one Class A ordinary share and one-half of a warrant, each whole warrant exercisable into one Class A ordinary share at an exercise price of $11.50 per ordinary share.

2. The Sponsor is the record holder of the shares reported herein. Paul Grinberg and Douglas Horlick, as the managing members of Mountain Lake Acquisition Sponsor II LLC share voting and investment discretion with respect to the ordinary shares held of record by the sponsor. Each such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly. Paul Grinberg and Douglas Horlick disclaim any beneficial ownership of the securities held by Mountain Lake Acquisition Sponsor II LLC other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

3. Excludes 12,006,000 Class B ordinary shares of the Issuer held by the Sponsor acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor, of which [6,000] are subject to forfeiture to the extent the underwriter in the Issuer's public offering does not exercise the remainder of its over-allotment option.

	/s/ Paul Grinberg	01/30/2026
	/s/ Mountain Lake Acquisition Sponsor II LLC	01/30/2026
	/s/ Douglas Horlick	01/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did Mountain Lake Acquisition Corp. II (MLAAU) report?

Mountain Lake Acquisition Sponsor II LLC purchased 510,000 private placement units at $10 per unit. Each unit includes one Class A ordinary share, resulting in 510,000 Class A ordinary shares indirectly owned through the Sponsor as of January 28, 2026.

Who is the actual record holder of the 510,000 Mountain Lake Acquisition Corp. II shares?

The record holder of the 510,000 Class A ordinary shares is Mountain Lake Acquisition Sponsor II LLC. Officers Paul Grinberg and Douglas Horlick share voting and investment discretion through the Sponsor but disclaim beneficial ownership beyond any pecuniary interest.

At what price were the Mountain Lake Acquisition Corp. II private placement units purchased?

The private placement units were purchased for $10 per unit. Each of the 510,000 units consists of one Class A ordinary share and one-half of a warrant, with each whole warrant exercisable for one Class A share at $11.50.

What securities are included in the Mountain Lake Acquisition Corp. II private placement units?

Each private placement unit includes one Class A ordinary share and one-half of a warrant. Every whole warrant can be exercised for one additional Class A ordinary share at an exercise price of $11.50 per share, according to the disclosure.

How many Mountain Lake Acquisition Corp. II shares are indirectly owned after this transaction?

Following the transaction, 510,000 Class A ordinary shares of Mountain Lake Acquisition Corp. II are indirectly beneficially owned. These shares are held through Mountain Lake Acquisition Sponsor II LLC, as reported in the Form 4 filing for January 28, 2026.

What additional Mountain Lake Acquisition Corp. II shares does the Sponsor hold that are not in this Form 4 total?

The disclosure notes 12,006,000 Class B ordinary shares held by the Sponsor under a subscription agreement. A portion, identified as [6,000] shares, is subject to forfeiture if the underwriter does not fully exercise its over-allotment option.