Avalanche Treasury completes business combination with MLAC, begins trading on Nasdaq
Avalanche Treasury Corporation completed its business combination with Mountain Lake Acquisition Corp. on June 11, 2026, and began trading on the Nasdaq under ticker AVAT. The combined company, which focuses on Avalanche (AVAX) digital assets, issued 37,914,826 shares of Class A common stock and 5,805,639 shares of Class B common stock. Holders of 22,846,470 MLAC Class A Ordinary Shares redeemed their shares for approximately $243.2 million at approximately $10.62 per share.
Key facts
- Business combination closed on June 11, 2026
- 37,914,826 shares of Pubco Class A Stock outstanding immediately after Closing
- 5,805,639 shares of Pubco Class B Stock outstanding immediately after Closing
- 22,846,470 MLAC Class A Ordinary Shares redeemed for approximately $243,227,458
- Pubco Class A Stock began trading on Nasdaq Global Market under symbol AVAT on June 11, 2026
- Astral received 4,000,000 shares of Pubco Class A Stock as additional consideration, including 2,000,000 shares placed in escrow
- Foundation received 3,000,000 shares of Pubco Class A Stock from private placement
- Seller Related Parties received 5,805,639 shares of Pubco Class A Stock and 5,805,639 shares of Pubco Class B Stock
- 1,634,507 from Trust Account available to Company following Closing, before expenses
Why it matters
The completion of the business combination enables Avalanche Treasury to operate as a publicly traded company focused on Avalanche ecosystem digital assets, with access to capital markets and operational resources previously unavailable as a private entity.
Share
Derived from 8-K filed 2026-06-17. Not investment advice. View the source filing on SEC.gov →