Mountain Lake Acquisition Corp. Announces Closing of $230 Million Initial Public Offering, Including Partial Exercise of Underwriters' Over-Allotment Option
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 ha completato con successo la sua offerta pubblica iniziale (IPO), raccogliendo 230 milioni di dollari in proventi lordi tramite la vendita di 23 milioni di unit脿 a 10,00 dollari ciascuna, comprese 2 milioni di unit脿 dall'opzione di over-allotment degli underwriter. Le contrattazioni sono iniziate il 13 dicembre 2024, su Nasdaq con il ticker 'MLACU'. Ogni unit脿 comprende un'azione ordinaria di Classe A e un diritto, con dieci diritti convertibili in un'azione al completamento della fusione.
La societ脿 di acquisizione con un check in bianco, guidata dal CEO Paul Grinberg e dal CFO Douglas Horlick, mira a fondersi con aziende consolidate e scalabili. BTIG funge da unico gestore principale per l'offerta, dichiarata efficace dalla SEC il 12 dicembre 2024.
Mountain Lake Acquisition Corp ha completado con 茅xito su oferta p煤blica inicial (IPO), recaudando $230 millones en ingresos brutos a trav茅s de la venta de 23 millones de unidades a $10.00 por unidad, incluyendo 2 millones de unidades de la opci贸n de sobreasignaci贸n de los suscriptores. La negociaci贸n comenz贸 el 13 de diciembre de 2024, en Nasdaq bajo 'MLACU'. Cada unidad consta de una acci贸n ordinaria de Clase A y un derecho, con diez derechos convertibles en una acci贸n tras completar la fusi贸n.
La empresa de cheque en blanco, dirigida por el CEO Paul Grinberg y el CFO Douglas Horlick, tiene como objetivo fusionarse con negocios establecidos y escalables. BTIG act煤a como el 煤nico responsable de la gesti贸n de la oferta, que fue declarada efectiva por la SEC el 12 de diciembre de 2024.
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CEO Paul Grinberg鞕� CFO Douglas Horlick鞚� 鞚措亜電� 鞚� 牍� 觳错伂 須岇偓電� 頇曤霅� 頇曥灔 臧�電ロ暅 旮办梾瓿� 頃╇硲頃橂姅 瓴冹潉 氇╉憸搿� 頃橁碃 鞛堨姷雼堧嫟. BTIG電� 鞚� 鞝滉车鞚� 鞙犾澕頃� 攵侂煱雼� 毵る媹鞝�搿� 頇滊彊頃橂┌, 鞚� 鞝滉车鞚� 2024雲� 12鞗� 12鞚� SEC鞐� 鞚橅暣 須臣臧� 鞛堧姅 瓴冹溂搿� 靹犾柛霅橃棃鞀惦媹雼�.
Mountain Lake Acquisition Corp a r茅ussi 脿 finaliser son introduction en bourse (IPO), levant 230 millions de dollars en recettes brutes gr芒ce 脿 la vente de 23 millions d'unit茅s 脿 10,00 dollars chacune, y compris 2 millions d'unit茅s provenant de l'option de surallocation des souscripteurs. Le trading a commenc茅 le 13 d茅cembre 2024 sur le Nasdaq sous le code 'MLACU'. Chaque unit茅 comprend une action ordinaire de Classe A et un droit, avec dix droits convertibles en une action lors de l'ach猫vement de la combinaison d'affaires.
L'entreprise 脿 ch猫que en blanc, dirig茅e par le PDG Paul Grinberg et le directeur financier Douglas Horlick, vise 脿 fusionner avec des entreprises 茅tablies et 茅volutives. BTIG agit en tant que seul gestionnaire livre pour l'offre, d茅clar茅e effective par la SEC le 12 d茅cembre 2024.
Mountain Lake Acquisition Corp hat erfolgreich ihr erstes 枚ffentliches Angebot (IPO) abgeschlossen und 230 Millionen Dollar in Bruttoeinnahmen durch den Verkauf von 23 Millionen Einheiten zu je 10,00 Dollar pro Einheit gesammelt, darunter 2 Millionen Einheiten aus der 脺berzeichnungsoption der Underwriter. Der Handel begann am 13. Dezember 2024 an der Nasdaq unter 'MLACU'. Jede Einheit besteht aus einer Stammaktie der Klasse A und einem Recht, wobei zehn Rechte in eine Aktie umgewandelt werden k枚nnen, sobald die Gesch盲ftsverbindung abgeschlossen ist.
Das Blankoscheck-Unternehmen, geleitet von CEO Paul Grinberg und CFO Douglas Horlick, zielt darauf ab, mit etablierten, skalierbaren Unternehmen zu fusionieren. BTIG fungiert als alleiniger Buchf眉hrungsmanager f眉r das Angebot, das am 12. Dezember 2024 von der SEC genehmigt wurde.
- Successful IPO raising $230 million in gross proceeds
- Full exercise of over-allotment option indicating strong demand
- Listing on major exchange (Nasdaq Global Market)
- Clear structure with 1:10 rights conversion ratio
- No specific target business identified yet
- Investor capital subject to blank check company risks
Insights
The successful completion of a
This SPAC launch comes at an interesting time in the market, where SPAC activity has significantly cooled compared to the 2020-2021 boom period. The
NEVADA, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Mountain Lake Acquisition Corp. (the 鈥淐ompany鈥�) announced today the closing of its initial public offering of 23,000,000 units, which includes 2,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at
The Company鈥檚 units began trading on December 13, 2024 on the Nasdaq Global Market (鈥淣asdaq鈥�) under the ticker symbol 鈥淢LACU.鈥� Each unit consists of one Class A ordinary share of the Company and one right. Each right entitles the holder thereof to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of an initial business combination. A right holder must hold ten rights to receive one Class A ordinary share at the closing of the initial business combination. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols 鈥淢LAC鈥� and 鈥淢LACR,鈥� respectively.
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 was made only by means of a prospectus, copies of which may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, or by email at .
The registration statements relating to the securities were declared effective by the U.S. Securities and Exchange Commission (the 鈥淪EC鈥�) or automatically 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 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 anticipated use of the net proceeds of the offering and the Company's search for an initial business combination. No assurance can be given that the net proceeds of the offering 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 Risk Factors section of the Company鈥檚 registration statement and prospectus for the Company鈥檚 offering filed with the SEC. Copies are available on the SEC鈥檚 website,聽. 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
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