Mountain Lake Acquisition Corp. (MLAC) completed its business combination with Avalanche Treasury Co. (AVAT), resulting in the listing of the combined company on the Nasdaq Stock Market. Shares of Class A common stock commenced trading on June 11, 2026, under the ticker symbol "AVAT." The transaction provides investors with exposure to the Avalanche ecosystem as businesses move on-chain, offering access to blockchain infrastructure without holding digital assets directly.

Transaction Details

The business combination was approved by MLAC's shareholders at an extraordinary general meeting held on June 4, 2026. All remaining closing conditions were satisfied or waived by the parties as of June 11, 2026. MLAC was a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, or similar business combination, led by Chairman & CEO Paul Grinberg and CFO Douglas Horlick.

Strategic Positioning and Ecosystem

AVAT functions as a corporate treasury deploying capital across the Avalanche economy to compound its value over time. The Avalanche blockchain, launched in 2020, combines speed, compliance capabilities, and interoperability. Over 550 projects are building on the network, with more than $1.02 billion in institutional funds deployed and over $1.65 billion in real-world assets tokenized. Users include BlackRock, Franklin Templeton, Apollo, FIFA, and the state of Wyoming.

Leadership and Advisory Support

The leadership team includes Chief Executive Officer Bart Smith and Chief Operating Officer Laine Litman, who has held senior roles at Virtu Financial, Goldman Sachs, and Bank of America Merrill Lynch. AVAT is supported by a board and advisory group featuring Emin Gün Sirer, Founder of Ava Labs, and Rob Hadick, General Partner at Dragonfly. Institutional backing comes from Dragonfly, ParaFi Capital, VanEck, Galaxy Digital, Pantera Capital, and Kraken.

Advisor Roles

Ellenoff Grossman & Schole LLP and Forbes Hare served as legal advisors to MLAC, while BTIG, LLC acted as financial and capital markets advisor. Skadden, Arps, Slate, Meagher & Flom (UK) LLP and Appleby (Cayman) Ltd served as legal advisors to AVAT.