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2h ago

Avalanche Treasury Co. Seals $675 Million SPAC to Build $1 Billion AVAX Stockpile

A discounted upfront purchase with 18‑month priority rights signals an institution‑oriented path to AVAX exposure.

Avalanche is one of the most valuable tokens in crypto.
Avalanche treasury co. going public in $675m spac deal backed by avax ecosystem
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Overview

  • The Nasdaq-bound vehicle will merge with Mountain Lake Acquisition Corp., targeting a listing in early 2026 subject to shareholder and regulatory approvals.
  • AVAT has already acquired $200 million of AVAX at a discounted price and secured priority access to future Avalanche Foundation token sales for 18 months.
  • Financing totals roughly $460 million from backers including Dragonfly, ParaFi, Pantera, VanEck and Galaxy Digital, on top of about $230 million already in the SPAC.
  • Former Susquehanna crypto head Bart Smith is CEO, with advisors such as Emin Gün Sirer, Stani Kulechov and Jason Yanowitz, and Ava Labs executive John Nahas joining the board.
  • The mandate extends beyond accumulation to protocol investments, enterprise partnerships, and validator and liquidity support, while an initial AVAX price pop largely faded after the announcement.