Avalanche Treasury Corp-A 2026年季度报告

FORM10-Q For the quarterly period endedMarch31, 2026 Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes☐No☒ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or forsuch shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☒Emerging growth company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ As of June 25, 2026, 39,514,805 shares of ClassA common stock, par value $0.01 per share and 5,805,639 shares ofClassB common stock, were issued and outstanding. Explanatory Note On June11, 2026, Avalanche Treasury Corporation (“Pubco”) consummated its previously announced businesscombination pursuant to that certain Business Combination Agreement, dated October1, 2025 (as amended, modified,supplemented modified and/or restated from time to time, the “Business Combination Agreement”), by and amongAvalanche Treasury Corporation, Mountain Lake Acquisition Corp., at that time a Cayman Islands exempted company(“MLAC”), Avalanche SPAC Merger Sub LLC, a Delaware limited liability company, Avalanche Company MergerSub LLC, a Delaware limited liability company, Avalanche Treasury Company LLC, a Delaware limited liabilitycompany, Dragonfly Digital Management, LLC, a Delaware limited liability company (“Seller”), DragonflyVenturesL.P., a Cayman Islands exempted limited partnership, Dragonfly Ventures II,L.P., a Cayman Islandsexempted limited partnership (together with the Seller, the “Seller Related Parties”) and Astral Horizon,L.P., aDelaware limited partnership. The business combination was accounted for as a reverse recapitalization under Accounting Standards Codification(“ASC”) 805, with MLAC being treated as the acquired company for financial reporting purposes and Pubco as theaccounting “acquirer.” Accordingly, the financial statements of the combined entity will represent a continuation of thefinancial statements of Pubco with the business combination treated as the equivalent of Pubco issuing stock for thenet assets of MLAC, accompanied by a recapitalization. The net assets of MLAC were stated at historical cost, with nogoodwill or other intangible assets recorded. Operations prior to the Business Combination were those of AvalancheTreasury Company LLC. This Quarterly Report on Form10-Q (this “Quarterly Report” or “Form10-Q”) is filed by Avalanche TreasuryCorporation under its current name and CIK, but includes the financial statements as of and for the threemonths endedMarch31, 2026 and Management’s Discussion and Analysis of Financial Condition and Results of Operations ofAvalanche Treasury Company, LLC (the predecessor) and the financial statements as of and for the threemonths endedMarch31, 2026 and Management’s Discussion and Analysis of Financial Condition and Results of Operations ofAvalanche Treasury Corporation (the successor). Forward-Looking Statements This Quarterly Report contains statements that may constitute “forward-looking statements” for purposes of the federalsecurities laws. Forward-looking statements include, but are not limited to, statements regarding MLAC, Pubco,Avalanche Treasury Company, LLC and their respective management teams’ expectations, hopes, beliefs, intentions orstrategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizationsof future events or circumstances, including any underlying assumptions, are forward-looking statements. The words“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,”“potential,” “predict,” “project,” “should,” “strive,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements i