Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$8.75, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 39x in the Capital Markets industry in the US. Total loss to shareholders of 14% over the past year. Announcement • Oct 02
Avalanche Treasury Co. entered into a definitive business combination agreement to acquire Mountain Lake Acquisition Corp. (NasdaqGM:MLAC) in a reverse merger transaction. Avalanche Treasury Co. entered into a definitive business combination agreement to acquire Mountain Lake Acquisition Corp. (NasdaqGM:MLAC) in a reverse merger transaction on October 1, 2025. Avalanche Treasury Co. announced a definitive business combination agreement with Mountain Lake Acquisition Corp. (Nasdaq: MLAC) valued at over approximately $680 million. The transaction includes approximately $460 million in treasury assets and is designed to create a leading public vehicle for AVAX exposure. The combined company expects to list on Nasdaq in Q1 2026. The transaction has attracted participation from leading institutional investors and crypto-native firms, including Dragonfly, ParaFi Capital, VanEck, Emin Gün Sirer, FalconX, Monarq, Galaxy Digital, Pantera Capital, CoinFund, IMC, Kraken, Borderless, and Hunting Hill. This diverse investor base represents a powerful combination of traditional asset managers, digital asset specialists, and ecosystem participants who bring both capital and strategic value to AVAT's mission. FalconX will be providing execution and credit services to support the company's trading and capital deployment activities. Additionally, Monarq will serve as an asset manager for AVAT, contributing institutional-grade portfolio management expertise to the company's treasury operations.
Upon the closing of the business combination, the AVAT advisory board and combined company board will be comprised of veterans bridging traditional finance expertise with deep crypto-native relationships and media connectivity. Ava Labs founder Emin Gün Sirer will serve as strategic advisor, while Chief Business Officer John Nahas will join the public company board, providing direct access to the ecosystem's architects.
The proposed transactions are expected to close in Q1 2026, subject to regulatory and shareholder approval.
PJT Partners is serving as Financial Advisor to Avalanche Treasury Co. PJT Partners and Barclays are serving as Placement Agents and Capital Markets Advisors to Avalanche Treasury Co. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Avalanche Treasury Co. Davis Polk & Wardwell LLP is serving as legal counsel to PJT Partners and Barclays. BTIG, LLC is serving as financial and capital markets advisor to Mountain Lake Acquisition Corp. Ellenoff Grossman & Schole LLP is serving as legal counsel to Mountain Lake Acquisition Corp. Sidley Austin LLP is serving as legal counsel to the Avalanche Foundation. 
