AVAT SPAC Deal Aims for $1B Treasury

Avalanche Treasury Co. (AVAT) plans to go public in a $675 million SPAC deal with Mountain Lake Acquisition Corp. (MLAC), targeting a $1 billion treasury by early 2026. The deal is supported by Wall Street and various crypto-native advisors. AVAT aims to fund growth within the Avalanche ecosystem through a discounted token sale, raising $200 million initially. The company plans to offer institutional investors a better entry point into the AVAX network, with a markdown of around 23% compared to buying tokens directly. It will start with approximately $460 million in treasury assets and is focused on scaling into its $1 billion treasury by investing directly in the ecosystem. Emin Gün Sirer, founder of Ava Labs, is serving as a strategic advisor, while a mix of venture capitalists and institutional investors are backing the initiative. The company expects to close the deal in the first quarter of 2026, as the regulatory landscape for cryptocurrency adoption becomes clearer.

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