Mountain Lake SPAC shareholders approve Avalanche Treasury merger; 96% redeem shares for $243M

Filed June 5, 2026 · Period ending June 4, 2026 · ~1 min read

Key Changes

• high

  Shareholders approved business combination with Avalanche Treasury Company on June 4, 2026, but 96% of public shareholders (22.8M shares) redeemed for $243M at $10.65/share, leaving only 153,830 public shares outstanding.

  Item 5.07: Shareholder Meeting verify on EDGAR →
• medium

  Combined company will have dual-class structure with 550M Class A shares and 100M Class B shares authorized. This proposal saw notably higher opposition (1.38M votes against) than other proposals.

  Item 5.07: Proposal B verify on EDGAR →
• medium

  SPAC sponsor distributed 2.78M Class B shares to members on June 1, including 478,010 shares each to CEO Paul Grinberg, CFO Douglas Horlick, and Director Jaime Vieser. Sponsor retains 4.36M shares.

  Item 5.02: Sponsor Distribution view on EDGAR →