Mountain Lake to Commence Separate Trading of Shares and Rights
Deal News | Jan 29, 2025 | EIN
Mountain Lake Acquisition Corp., a blank check company, has announced the separate trading of its Class A ordinary shares and rights from February 3, 2025, on The Nasdaq Global Market. The units were initially offered during the company's IPO on December 16, 2024. These shares and rights will trade under the symbols MLAC and MLACR, respectively, while the unsplit units will retain the trading symbol MLACU. BTIG, LLC acted as the sole book-running manager for the offering, and Continental Stock Transfer & Trust Company is handling the separation of units. Mountain Lake Acquisition Corp. is a Cayman Islands-incorporated company that aims to effect a business combination with one or more businesses for long-term growth. The announcement includes forward-looking statements concerning the use of IPO proceeds and plans for a business combination.
Sectors
- Finance and Investments
- Corporate Finance
Geography
- United States – Mountain Lake Acquisition Corp. is trading on The Nasdaq Global Market, a U.S.-based exchange, indicating the geographical focus of their financial services.
- Cayman Islands – The company is incorporated in the Cayman Islands, a common jurisdiction for creating international business entities.
Industry
- Finance and Investments – The core activity revolves around financial markets and acquisitions, involving initial public offerings, share trading, and business combinations.
- Corporate Finance – Mountain Lake Acquisition Corp.'s operations focus on mergers and acquisitions, which are central to corporate finance strategies.
Financials
- Not specified – The announcement mentions net proceeds from the offering but does not specify the amount.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mountain Lake Acquisition Corp. | Target | Company | A blank check company seeking to effect mergers, share exchanges, or similar business combinations. |
| BTIG, LLC | Book-running Manager | Company | The sole book-running manager for Mountain Lake Acquisition Corp.'s IPO. |
| Continental Stock Transfer & Trust Company | Transfer Agent | Company | Responsible for the separation of units into Class A ordinary shares and rights. |