Mountain Lake Acquisition Corp. II completed an upsized initial public offering that raised $360 million, selling 36 million units at $10 per unit. The special purpose acquisition company began trading on January 27, 2026.
The offering incorporated a partial exercise of the underwriters' over-allotment option, with 4.68 million of the units issued through that mechanism. Each unit consists of one Class A ordinary share and one-half of a redeemable warrant. When assembled into whole warrants, holders will have the right to purchase Class A ordinary shares at a strike price of $11.50 per share.
Leadership of the company is headed by Chief Executive Officer Paul Grinberg and Chief Financial Officer Douglas Horlick. BTIG, LLC acted as the sole book-running manager for the transaction.
The U.S. Securities and Exchange Commission declared the registration statement effective on January 26, 2026. The company indicated that, once securities begin to trade separately, its Class A ordinary shares and warrants are expected to trade under the ticker symbols "MLAA" and "MLAAW," respectively.
Mountain Lake Acquisition Corp. II is structured as a blank check company formed to pursue mergers, acquisitions or other business combinations with one or more businesses. The entity is incorporated in the Cayman Islands and is headquartered in Incline Village, Nevada.
Context and mechanics of the offering
The offering structure delivered 36 million units at the $10 unit price point, generating the stated gross proceeds of $360 million. The partial exercise of the underwriters' over-allotment added 4.68 million units to the issuance total, consistent with standard IPO allotment practices. Each unit's composition - one Class A ordinary share plus one-half of a redeemable warrant - means investors received a combination of equity exposure and warrant-based upside, with whole warrants exercisable at $11.50 per share.
Corporate purpose and domicile
The company defined its corporate purpose as seeking business combinations, a description that aligns with its blank check company status. It is organized in the Cayman Islands while maintaining its operational headquarters in Incline Village, Nevada.
What is known and what remains to unfold
Regulatory clearance for the registration statement was granted on January 26, 2026, and public trading for the issued securities commenced the following day. Separate listings for ordinary shares and warrants are expected once separate trading of those instruments begins; the timing of that separate trading will determine when the "MLAA" and "MLAAW" symbols appear on the market.