Avalanche Treasury Co. and MLAC announce a US$675 million merger, aiming to build a US$1 billion AVAX ecosystem treasury with an exclusive partnership.

Avalanche Treasury Co. (AVAT), an ecosystem-aligned digital asset treasury company with an exclusive relationship with the Avalanche Foundation, announced a definitive business combination agreement with Mountain Lake Acquisition Corp. valued at more than US$675 million.

The transaction includes approximately US$460 million in treasury assets and is intended to create a leading public vehicle for AVAX exposure. The combined company expects to list on Nasdaq in Q1 2026, subject to regulatory and shareholder approval.

As part of its launch, AVAT will make an initial AVAX token purchase at a discount to the market price and will hold an 18-month priority on Avalanche Foundation token sales to US-based digital asset treasury companies. The structure offers investors an entry point at 0.77 times net asset value (mNAV), representing a 23% discount compared to purchasing AVAX directly or through passive ETF alternatives.

“Many institutions have difficulty accessing digital assets or are limited to holding native tokens without yield or ecosystem integration. We created Avalanche Treasury Co. to offer something we believe will be more valuable than passive exposure,” said Bart Smith, CEO of AVAT.

“This is a public company launching as an active, strategic partner within the Avalanche network, offering a level of integration and alignment that investors have been demanding.”

AVAT’s capital strategy aims to build more than US$1 billion worth of AVAX holdings once public, positioning the company as a foundational partner in the Avalanche ecosystem. The initial capital raise is expected to provide about US$460 million in treasury assets, funded alongside or shortly after the announcement.

By combining discounted token access, long-term priority allocations, and an exclusive relationship with the Avalanche Foundation, AVAT intends to establish itself as the premier public vehicle for institutional AVAX exposure, supporting deeper liquidity and ecosystem growth.

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