DealsMay 13, 2026, 05:32 PM
Mountain Lake II Reports Q1 Net Income $1.9M; LOI with Terra Quantum
AI Summary
Mountain Lake Acquisition Corp. II reported its first-quarter results for the period ended March 31, 2026, showing a net income of $1.93 million, or $0.05 per share. Significantly, the SPAC announced it executed a non-binding letter of intent with Terra Quantum AG on March 17, 2026, for a proposed business combination. As of March 31, 2026, the company held $362.15 million in its Trust Account and has until January 28, 2028, to complete an initial business combination.
Key Highlights
- Executed a non-binding Letter of Intent (LOI) with Terra Quantum AG on March 17, 2026, for a proposed Business Combination.
- Reported Q1 2026 net income of $1,926,341, or $0.05 per share.
- Cash and marketable securities held in Trust Account totaled $362,154,495 as of March 31, 2026.
- Total assets were $363,859,517 and total liabilities were $12,648,585 as of March 31, 2026.
- Class A Ordinary Shares subject to possible redemption amounted to $362,154,495.
- Initial Public Offering (IPO) on January 28, 2026, raised $360,000,000.
- Private Placement simultaneously raised an additional $9,800,000.
- Company has until January 28, 2028, to complete an initial Business Combination.