Avalanche Treasury Announces $675M Business Combination with Mountain Lake Acquisition
Avalanche Treasury Co. (AVAT) announced a business combination with Mountain Lake Acquisition Corp. (MLAC), valued at over $675 million. The goal is to establish a $1 billion ecosystem treasury.
- AVAT plans a $200 million discounted token sale and aims to list on Nasdaq in early 2026.
- The company starts with approximately $460 million in treasury assets, offering investors a discounted entry point compared to direct token purchases or ETF alternatives.
- CEO Bart Smith highlights AVAT's role as an integrated partner within the Avalanche network.
- AVAT’s strategy focuses on scaling its treasury by investing directly in the ecosystem and supporting protocol adoption and on-chain enterprise activity.
- Emin Gün Sirer of Ava Labs will advise, while other board members include leaders from Dragonfly, Blockworks, and Aave.
- Institutional and crypto-native investors backing the venture include Dragonfly, ParaFi, VanEck, Galaxy Digital, Pantera, CoinFund, and Kraken.
- The deal is expected to close in Q1 2026, amid increasing regulatory clarity for institutional crypto adoption.
The initiative positions AVAT as both an institutional access point and a growth engine for Avalanche. The Financial Times previously reported Avalanche Foundation’s plan to raise $1 billion for two crypto treasury companies.