Overview

• AVAT entered a definitive merger with Nasdaq-listed Mountain Lake Acquisition Corp., valuing the combined company at more than $675 million with an expected listing in early 2026 pending approvals.
• At launch, the firm disclosed a $200 million AVAX purchase from the Avalanche Foundation at a discount, plus 18-month priority rights on future token sales to U.S. treasury firms.
• Investors are offered entry at roughly 0.77 times net asset value, a stated 23% discount versus buying AVAX directly or through passive ETF alternatives.
• AVAT targets building a $1 billion-plus AVAX treasury while acting as a growth engine for the ecosystem through protocol investments, enterprise partnerships, and validator and liquidity support.
• Bart Smith will serve as CEO, with Ava Labs founder Emin Gün Sirer as strategic advisor, John Nahas joining the board, backing from firms including Dragonfly, ParaFi, Pantera, VanEck and Galaxy, and a brief AVAX price pop that later faded.