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Mountain Lake Acquisition Corp (NASDAQ: MLAC) has announced that starting February 3, 2025, holders of units from their December 16, 2024 initial public offering can choose to separately trade Class A ordinary shares and rights on the Nasdaq Global Market. The separated components will trade under symbols MLAC (Class A ordinary shares) and MLACR (rights), while unseparated units will continue trading as MLACU.
Unit holders must contact Continental Stock Transfer & Trust Company through their brokers to separate units. The initial units were offered through an underwritten offering with BTIG, serving as the sole book-running manager.
Mountain Lake Acquisition Corp has successfully completed its initial public offering (IPO), raising $230 million in gross proceeds through the sale of 23 million units at $10.00 per unit, including 2 million units from the underwriters' over-allotment option. Trading began on December 13, 2024, on Nasdaq under 'MLACU'. Each unit comprises one Class A ordinary share and one right, with ten rights convertible to one share upon business combination completion.
The blank check company, led by CEO Paul Grinberg and CFO Douglas Horlick, aims to merge with established, scalable businesses. BTIG, serves as the sole book-running manager for the offering, which was declared effective by the SEC on December 12, 2024.
Mountain Lake Acquisition Corp has announced the pricing of its upsized initial public offering (IPO) of 21,000,000 units at $10.00 per unit, totaling $210,000,000. Each unit comprises one Class A ordinary share and one right, with each right convertible to one-tenth of a Class A ordinary share upon business combination completion.
The units will trade on Nasdaq under MLACU, with the shares and rights later trading separately as MLAC and MLACR. The offering, expected to close December 16, 2024, includes a 45-day overallotment option for underwriters to purchase up to 3,150,000 additional units. The blank check company aims to merge with established, scalable businesses under CEO Paul Grinberg and CFO Douglas Horlick's leadership.
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