Mountain Lake Acquisition, a blank check company led by the Chairman of Axos Financial, raised $210 million by offering 21 million units at $10. The company offered 1 million more units than anticipated. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
The company is led by CEO and Chairman Paul Grinberg, who currently serves as Chairman of bank Axos Financial (NYSE: AX), and CFO Douglas Horlick, the founder of strategy and advisory consulting firm Estancia LLC. Mountain Lake Acquisition plans to target an established business of scale poised for continued growth, led by a highly regarded management team.
Management's previous SPAC, Social Leverage Acquisition I (SLAC), went public in February 2021, terminated its merger agreement with W3BCLOUD Holdings in September 2023, and liquidated this past February.
Mountain Lake Acquisition plans to list on the Nasdaq under the symbol MLACU. BTIG acted as sole bookrunner on the deal.
