- **Mountain Lake Acquisition Corp. (MLAC)** has entered into a definitive business combination agreement with **Avalanche Treasury Co. (AVAT)**, valued at **over $675 million**.  **[2029492_0001213900-25-094940_ea025986801ex99-1_mount.htm:0]** 
- The transaction includes approximately **$460 million in treasury assets** and is designed to create a leading public vehicle for AVAX exposure.  **[2029492_0001213900-25-094940_ea025986801ex99-1_mount.htm:0]** 
- AVAT has an **exclusive relationship with the Avalanche Foundation**, beginning with a **$200 million discounted token sale** and an **18-month priority on Avalanche Foundation sales** to U.S. digital asset treasury companies.  **[2029492_0001213900-25-094940_ea025986801ex99-1_mount.htm:0]** **[2029492_0001213900-25-094940_ea025986801ex99-2_mount.htm:8]** 
- Investors are offered an entry point of **0.77x multiple of net asset value (mNAV)**, delivering a **23% discount** compared to buying AVAX directly.  **[2029492_0001213900-25-094940_ea025986801ex99-1_mount.htm:0]** **[2029492_0001213900-25-094940_ea025986801ex99-2_mount.htm:8]** 
- The combined company expects to list on Nasdaq in **Q1 2026**, subject to regulatory and shareholder approval.  **[2029492_0001213900-25-094940_ea025986801ex99-1_mount.htm:0]** **[2029492_0001213900-25-094940_ea025986801ex99-2_mount.htm:8]**

Mountain Lake Acquisition (MLAC)