What did Mountain Lake Acquisition Sponsor LLC report in this Form 4 for MLAC?

Mountain Lake Acquisition Sponsor LLC reported disposing of all its Mountain Lake Acquisition Corp. equity interests. It surrendered private placement units and Class B ordinary shares to the issuer for cancellation, leaving the sponsor with zero ordinary shares following the transaction.

How many securities did the MLAC sponsor surrender in the reported transaction?

The sponsor surrendered 495,000 private placement units and 4,355,724 Class B ordinary shares. These were returned to Mountain Lake Acquisition Corp. for cancellation, with no consideration received, as part of the closing mechanics tied to the Business Combination Agreement.

Did Mountain Lake Acquisition Sponsor LLC receive any consideration for the surrendered MLAC securities?

The sponsor received no consideration for the surrendered securities. Both the 495,000 private placement units and 4,355,724 Class B ordinary shares were cancelled by Mountain Lake Acquisition Corp. without payment, in connection with consummation of the business combination transactions.

MLAC sponsor cancels 4.36M founder shares, units

Mountain Lake Acquisition Sponsor LLC, a 10% owner of Mountain Lake Acquisition Corp., reported disposing of all its holdings in connection with consummation of the Business Combination Agreement dated October 1, 2025 (as later amended).

Filing Impact

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Mountain Lake Acquisition Sponsor LLC, a 10% owner of Mountain Lake Acquisition Corp., reported disposing of all its holdings in connection with consummation of the Business Combination Agreement dated October 1, 2025 (as later amended). On June 11, 2026, the sponsor surrendered its interests to the issuer for cancellation at no cost.

The sponsor returned 495,000 private placement units and 4,355,724 Class B ordinary shares, which were convertible into Class A ordinary shares on a one-for-one basis, to the company for no consideration. Following these cancellations, the sponsor holds zero ordinary shares of the issuer.

Insider Trade Summary

Disposition: 4,850,724 shares

Disposition 2 txns

Insider Mountain Lake Acquisition Sponsor LLC

Role 10% Owner

Type	Security	Shares	Price	Value
Disposition	Class B ordinary shares, par value $0.0001 per share	4,355,724	$0.00	$0.00
Disposition	Class A ordinary shares, par value $0.0001 per share	495,000	$0.00	$0.00

Holdings After Transaction: Class B ordinary shares, par value $0.0001 per share — 0 contracts (Direct); Class A ordinary shares, par value $0.0001 per share — 0 shares (Direct)

Footnotes (2)

F1. On June 11, 2026, in connection with the consummation of the transactions contemplated by the Business Combination Agreement dated as of 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 ("Pubco"), and the other parties thereto, and certain Sponsor Support Agreement dated as of October 1, 2025, by and among the Issuer, Pubco and Mountain Lake Acquisition Sponsor LLC (the "Sponsor"), an aggregate of 4,355,724 Class B ordinary shares and 495,000 private placement units held by Mountain Lake Acquisition Sponsor LLC (the "Sponsor") were surrendered for cancellation by the Sponsor to the Issuer for no consideration. Following the surrender, the Sponsor owns zero ordinary shares.
F2. 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 shares of Class B Ordinary Shares will automatically convert into shares of 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.

Key Figures

Private placement units cancelled: 495,000 units Class B shares surrendered: 4,355,724 shares Price per surrendered security: $0.0000 per share/unit +2 more

5 metrics

Private placement units cancelled 495,000 units Surrendered to issuer for no consideration on June 11, 2026

Class B shares surrendered 4,355,724 shares Returned to issuer for cancellation in business combination

Price per surrendered security $0.0000 per share/unit Disposition to issuer with no consideration

Sponsor holdings after transaction 0 ordinary shares Total shares following transaction as reported in Form 4

Conversion ratio of Class B shares 1:1 into Class A Automatic or optional conversion described for founder shares

Key Terms

Business Combination Agreement, Sponsor Support Agreement, private placement units, Class B ordinary shares, +1 more

5 terms

Business Combination Agreement financial

"in connection with the consummation of the transactions contemplated by the Business Combination Agreement dated as of October 1, 2025"

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.

private placement units financial

"an aggregate of 4,355,724 Class B ordinary shares and 495,000 private placement units held by Mountain Lake Acquisition Sponsor LLC"

Class B ordinary shares financial

"an aggregate of 4,355,724 Class B ordinary shares and 495,000 private placement units held by Mountain Lake Acquisition Sponsor LLC"

Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.

founder shares financial

"under the heading "Description of Securities--Founder Shares," the shares of Class B Ordinary Shares will automatically convert"

Founder shares are the ownership stakes given to the people who start a company, often with extra voting power or protections compared with ordinary shares. For investors, they matter because founders’ control and incentives influence decisions about strategy, hiring, and whether the company sells or stays independent — like a family that keeps majority voting rights in a household decision. High founder ownership can mean stable leadership but also a risk that outside shareholders have less influence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the sponsor’s ownership in Mountain Lake Acquisition Corp. after this Form 4?

After the reported dispositions, the sponsor owns zero ordinary shares of Mountain Lake Acquisition Corp. All previously held private placement units and Class B ordinary shares were surrendered to the issuer for cancellation, eliminating the sponsor’s ordinary share position.

How were MLAC Class B ordinary shares expected to function before this disposition?

According to the described terms, the Class B ordinary shares would automatically convert into Class A ordinary shares at the time of the issuer’s initial business combination, or earlier at the holder’s option, on a one-for-one basis, subject to specified adjustments.

Why were the MLAC sponsor’s securities cancelled on June 11, 2026?

The cancellations occurred on June 11, 2026, in connection with consummation of the transactions under the Business Combination Agreement dated October 1, 2025, and a related Sponsor Support Agreement. These agreements required the sponsor to surrender specified securities to the issuer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/15/2026 - 04:17 PM EDT

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Mountain Lake Acquisition Sponsor LLC

(Last)

(First)

(Middle)

C/O MOUNTAIN LAKE ACQUISITION CORP.

930 TAHOE BLVD STE 802 PMB 45

(Street)

INCLINE VILLAGE

NEVADA

89451

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/11/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A ordinary shares, par value $0.0001 per share	06/11/2026		D⁽¹⁾		495,000	D	⁽¹⁾	0	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B ordinary shares, par value $0.0001 per share	⁽¹⁾⁽²⁾	06/11/2026		D⁽²⁾			4,355,724	⁽²⁾	⁽²⁾	Class A ordinary shares	4,355,724	⁽²⁾	0⁽¹⁾	D⁽¹⁾

Explanation of Responses:

1. On June 11, 2026, in connection with the consummation of the transactions contemplated by the Business Combination Agreement dated as of 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 ("Pubco"), and the other parties thereto, and certain Sponsor Support Agreement dated as of October 1, 2025, by and among the Issuer, Pubco and Mountain Lake Acquisition Sponsor LLC (the "Sponsor"), an aggregate of 4,355,724 Class B ordinary shares and 495,000 private placement units held by Mountain Lake Acquisition Sponsor LLC (the "Sponsor") were surrendered for cancellation by the Sponsor to the Issuer for no consideration. Following the surrender, the Sponsor owns zero ordinary shares.

2. 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 shares of Class B Ordinary Shares will automatically convert into shares of 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.

	Signed by Managing Member of Mountain Lake Acquisition Sponsor LLC /s/ Douglas Horlick	06/15/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR