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Mountain lake acquisition sponsor LLC buys $4.95 million in shares

Published 17/12/2024, 01:42

MLAC
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Mountain Lake Acquisition Sponsor LLC, a significant stakeholder in Mountain Lake Acquisition Corp. (NASDAQ:MLAC), has made notable transactions in the company's stock. According to a recent SEC filing, the sponsor acquired 495,000 Class A ordinary shares on December 16, 2024, at a total purchase price of $4.95 million. This acquisition reflects the purchase of private units at $10.00 per unit, which include both Class A ordinary shares and rights. Track institutional transactions and gain deeper insights into SPAC investments with InvestingPro, featuring comprehensive SPAC analysis tools and real-time transaction monitoring.

Additionally, Mountain Lake Acquisition Sponsor LLC received 359,375 Class B ordinary shares as bonus shares on December 12, 2024. These shares are set to automatically convert into Class A ordinary shares upon the completion of the company's initial business combination. However, on December 16, 2024, the sponsor forfeited 359,375 Class B ordinary shares due to the underwriters only partially exercising the over-allotment option.

These transactions highlight the sponsor's active involvement and investment in Mountain Lake Acquisition Corp. as it navigates its business strategies and growth opportunities.

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