MLAC (MLAC) CFO Horlick converts 478,010 founder shares in SPAC merger
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Mountain Lake Acquisition Corp. director and CFO/President Douglas Horlick reported share movements tied to the company’s business combination. He exercised 478,010 Class B ordinary shares into 478,010 Class A ordinary shares, then disposed of 478,010 Class A ordinary shares in connection with a SPAC merger and exchange into Pubco shares. Following these steps, he holds zero Class A and zero Class B ordinary shares of Mountain Lake Acquisition Corp., while receiving 478,010 Class A common shares of Pubco.
Positive
- None.
Negative
- None.
Insider Trade Summary
478,010 shares exercised/converted
Mixed
2 txns
Insider
Horlick Douglas
Role
CFO and President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B ordinary shares, par value $0.0001 per share | 478,010 | $0.00 | -- |
| Disposition | Class A ordinary shares, par value $0.0001 per share | 478,010 | $0.00 | -- |
Holdings After Transaction:
Class B ordinary shares, par value $0.0001 per share — 0 shares (Direct, null);
Class A ordinary shares, par value $0.0001 per share — 0 shares (Direct, null)
Footnotes (1)
- As described in the registration statement on Form S-1 (File No. 333-281410) of the Issuer under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. In connection with the SPAC Merger (as defined in the Business Combination Agreement), an aggregate of 478,010 Class A ordinary shares held by the Reporting Person were exchanged into an equal number of shares of Class A common stock, par value $0.01 per share, of Pubco. Following such transaction, the Reporting Person owns zero Class A ordinary shares. On June 11, 2026, in connection with the consummation of the transactions contemplated by the Business Combination Agreement dated October 1, 2025 (as amended on January 13, 2026 and March 17, 2026, the "Business Combination Agreement" and the transactions contemplated thereto, the "Business Combination"), by and among the Issuer, Avalanche Treasury Corporation, a Delaware corporation ("Pubco") and the other parties thereto, 478,010 Class B ordinary shares were converted into an aggregate of 478,010 Class A ordinary shares (the "Class B Conversion"). Following the Class B Conversion, the Reporting Person owns zero Class B ordinary shares.
Key Figures
Class B converted: 478,010 shares
Class A disposed: 478,010 shares
Pubco shares received: 478,010 shares
+1 more
4 metrics
Class B converted
478,010 shares
Class B ordinary shares converted into Class A on June 11, 2026
Class A disposed
478,010 shares
Class A ordinary shares disposed to issuer on June 11, 2026
Pubco shares received
478,010 shares
Class A ordinary shares exchanged into Pubco Class A common stock
MLAC shares held after
0 shares
Total Class A and Class B ordinary shares of MLAC after transactions
Key Terms
SPAC Merger, Business Combination Agreement, Class B ordinary shares, Class A ordinary shares, +1 more
5 terms
SPAC Merger financial
"In connection with the SPAC Merger (as defined in the Business Combination Agreement), an aggregate of 478,010 Class A ordinary shares..."
A SPAC merger is when a private company combines with a SPAC, a publicly traded shell company created to find and buy a business, so the private company becomes publicly listed without a traditional initial public offering. Investors should care because this shortcut can speed up market access but often brings greater uncertainty about valuation, potential share dilution, and reliance on investor votes and future performance, which can increase stock volatility.
Business Combination Agreement financial
"transactions contemplated by the Business Combination Agreement dated October 1, 2025 (as amended on January 13, 2026 and March 17, 2026..."
A business combination agreement is a detailed contract that lays out the terms for two companies to join together—covering price, how ownership will be split, the steps needed to close the deal, and what each side promises to do or avoid before closing. For investors it matters because the agreement determines potential changes in value, control, timing, and risk exposure—think of it like the playbook for a merger that shows who wins, who pays, and what could still derail the plan.
Class A common stock financial
"exchanged into an equal number of shares of Class A common stock, par value $0.01 per share, of Pubco."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
What insider transactions did MLAC’s Douglas Horlick report on this Form 4?
Douglas Horlick reported a conversion and disposition of shares. He converted 478,010 Class B ordinary shares into 478,010 Class A ordinary shares, then disposed of 478,010 Class A ordinary shares as part of a SPAC merger and exchange into Pubco shares.