Mountain Lake Acquisition Corp. II (MLAAW) Warrant
Each MLAAW warrant gives the holder the right to buy 1 share of Mountain Lake Acquisition Corp. II at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.01, below the strike, so the warrant is out of the money. Mountain Lake Acquisition Corp. II has a market value of about $490.29M. Mountain Lake Acquisition Corp. II is a SPAC (no deal announced yet). It must complete a deal by January 28, 2028 or the warrants expire worthless. There are 18.00M listed warrants; exercising all of them would add 36.8% to the 48.98M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- no
- Break-even stock price
- $11.68
From the issuer's S-1/A (2026-01-21).
Company and stock
- Company
- Mountain Lake Acquisition Corp. II
- Underlying stock
- MLAA
- Share price
- $10.01
- Market cap
- $490.29M
- Shares outstanding
- 48.98M
- Range since Mar 2026
- $9.80 – $10.14
- Change since Mar 2026
- +2%
- Value of all listed warrants
- $3.15M (0.6% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Incline Village, NV
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.1750
- Price / model
Pro will show whether MLAAW is cheap or rich against our model. It is not open yet. Leave your email to hear when it is.
Dilution
- Shares outstanding
- 48.98M
- Listed warrants
- 18.00M
- Dilution if all exercised
- 36.8%
Warrant count from filing text: public warrants.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2028-01-28
- Latest possible deadline
- —
- Trust per share
- $10.15
- Sponsor
- Mountain Lake Acquisition Sponsor II LLC
- Sponsor's earlier SPACs
- 1 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about MLAAW
When does the MLAAW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of MLAAW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many MLAAW warrants are outstanding?
18.00M listed warrants, equal to 36.8% dilution if all are exercised.
Related warrants
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