Mountain Lake Acquisition Corp. Announces the Pricing of Upsized $210,000,000 Initial Public Offering
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.
Mountain Lake Acquisition Corp ha annunciato il prezzo della sua offerta pubblica iniziale (IPO) ampliata di 21.000.000 di unit脿 a $10,00 per unit脿, per un totale di $210.000.000. Ogni unit脿 猫 composta da una azione ordinaria di Classe A e un diritto, con ogni diritto convertibile in un decimo di un'azione ordinaria di Classe A al completamento della combinazione aziendale.
Le unit脿 verranno scambiate su Nasdaq con il codice MLACU, mentre le azioni e i diritti verranno successivamente scambiati separatamente come MLAC e MLACR. L'offerta, che si prevede si chiuda il 16 dicembre 2024, include un'opzione di sovrallocazione di 45 giorni per i sottoscrittori di acquistare fino a 3.150.000 unit脿 aggiuntive. La societ脿 quotata in borsa mira a fondersi con aziende consolidate e scalabili sotto la direzione del CEO Paul Grinberg e del CFO Douglas Horlick.
Mountain Lake Acquisition Corp ha anunciado el precio de su oferta p煤blica inicial (IPO) ampliada de 21.000.000 de unidades a $10,00 por unidad, totalizando $210.000.000. Cada unidad consiste en una acci贸n ordinaria Clase A y un derecho, siendo cada derecho convertible en un d茅cimo de una acci贸n ordinaria Clase A al completar la combinaci贸n empresarial.
Las unidades se negociar谩n en Nasdaq bajo el s铆mbolo MLACU, mientras que las acciones y los derechos se negociar谩n por separado posteriormente como MLAC y MLACR. Se espera que la oferta se cierre el 16 de diciembre de 2024, e incluye una opci贸n de sobreasignaci贸n de 45 d铆as para que los suscriptores compren hasta 3.150.000 unidades adicionales. La empresa de cheque en blanco tiene como objetivo fusionarse con negocios establecidos y escalables bajo el liderazgo del CEO Paul Grinberg y el CFO Douglas Horlick.
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Mountain Lake Acquisition Corp a annonc茅 le prix de son introduction en bourse (IPO) agrandie de 21.000.000 d'unit茅s 脿 $10,00 par unit茅, totalisant $210.000.000. Chaque unit茅 se compose d'une action ordinaire de Classe A et d'un droit, chaque droit 茅tant convertible en un dixi猫me d'une action ordinaire de Classe A lors de l'ach猫vement de la combinaison d'entreprises.
Les unit茅s se n茅gocieront sur le Nasdaq sous MLACU, les actions et les droits 茅tant ensuite n茅goci茅s s茅par茅ment sous MLAC et MLACR. L'offre, qui devrait se cl么turer le 16 d茅cembre 2024, comprend une option de surallocation de 45 jours pour les souscripteurs afin d'acheter jusqu'脿 3.150.000 unit茅s suppl茅mentaires. La soci茅t茅 脿 ch猫que blanc vise 脿 fusionner avec des entreprises 茅tablies et 茅volutives sous la direction du PDG Paul Grinberg et du CFO Douglas Horlick.
Mountain Lake Acquisition Corp hat den Preis ihres erweiterten B枚rsengangs (IPO) von 21.000.000 Einheiten zu $10,00 pro Einheit bekannt gegeben, was insgesamt $210.000.000 ergibt. Jede Einheit besteht aus einer Stammaktie der Klasse A und einem Recht, wobei jedes Recht in ein Zehntel einer Stammaktie der Klasse A umgewandelt werden kann, wenn die Unternehmenszusammenf眉hrung abgeschlossen ist.
Die Einheiten werden an der Nasdaq unter MLACU gehandelt, w盲hrend die Aktien und Rechte sp盲ter separat als MLAC und MLACR gehandelt werden. Das Angebot, das voraussichtlich am 16. Dezember 2024 abgeschlossen wird, umfasst eine 45-t盲gige 脺berzeichnungsoption f眉r die Underwriter, um bis zu 3.150.000 zus盲tzliche Einheiten zu kaufen. Das leere Scheckunternehmen zielt darauf ab, unter der Leitung von CEO Paul Grinberg und CFO Douglas Horlick mit etablierten, skalierbaren Unternehmen zu fusionieren.
- Substantial IPO size of $210 million indicates strong initial capital base
- Trading on major exchange (Nasdaq) provides high visibility and liquidity
- 45-day overallotment option could add $31.5 million to capital raised
- Experienced management team with focus on established, scalable businesses
- Blank check company with no current business operations
- Significant uncertainty about future acquisition target
- Shareholder dilution risk through rights conversion mechanism
Insights
This IPO marks a significant development in the SPAC market with Mountain Lake Acquisition Corp. raising
The management team's focus on established businesses with growth potential, combined with their extensive experience in financial services and M&A, positions them well in the competitive SPAC landscape. The involvement of BTIG as the sole book-runner adds credibility to the offering. The unit structure with rights instead of traditional warrants represents an interesting variation on typical SPAC offerings, potentially reducing future dilution concerns.
The timing of this SPAC IPO is noteworthy as it enters a market that has seen renewed interest in blank-check companies. The upsized offering from the initially planned amount suggests strong investor demand. The company's broad mandate, while focusing on established businesses of scale, provides flexibility in target selection across various sectors.
The leadership team's background, particularly Paul Grinberg's experience, could be attractive to potential merger targets. The structure of the rights offering at 1/10 share per right presents a more conservative approach to post-merger dilution compared to traditional warrant-based SPACs, which could appeal to both investors and potential merger targets.
NEVADA, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Mountain Lake Acquisition Corp. (the 鈥淐ompany鈥�) announced today the pricing of its initial public offering of 21,000,000 units at a price of
The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination target in any business or industry or at any stage of its corporate evolution. The Company鈥檚 primary focus will be in completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.
The Company鈥檚 management team is led by Paul Grinberg, its Chief Executive Officer and Chairman of the Board of Directors of the Company (the 鈥淏oard鈥�), and Douglas Horlick, Chief Financial Officer, Director, and President. In addition, the Board includes Jeffrey Lager, Michael Marquez, and Jaime W. Vieser.
BTIG, LLC is acting as sole book-running manager for the offering.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at or by accessing the SEC鈥檚 website, .
A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (the 鈥淪EC鈥�) and became effective on December 12, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute 鈥渇orward-looking statements,鈥� including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds will be used as indicated.
Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the 鈥淩isk Factors鈥� section of the Company鈥檚 registration statement and prospectus for the Company鈥檚 initial public offering filed with the SEC. Copies of these documents are available on the SEC鈥檚 website, . The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contacts
Douglas Horlick
Mountain Lake Acquisition Corp.
930 Tahoe Blvd STE 802 PMB 45
Incline Village, NV 89451
(775) 204-1489
FAQ
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