AVAT secures $25M open loan at 7% from FalconX; Q1 net loss $139K, going concern doubt

Avalanche Treasury Corp

AVAT borrows $25M via Open Loan at 7% per annum, collateralized by ~5.6M AVAX at 200% initial ratio, from FalconX Charlie.
Proceeds intended to finance closing costs of Business Combination with Mountain Lake Acquisition Corp.
Avalanche Treasury Corp Q1 net loss $139,635; no cash, working capital deficit $285,017 as of March 31, 2026.
Substantial doubt about going concern due to recurring losses and lack of committed financing; completion of merger needed.
Staking capped at 75% of collateral; laddered epoch strategy requires 50% of staked assets to be liquid weekly.

Featured in Daily 8-K Digest

Selected #8 for 2026-05-29. Read digest

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Noble boosts revolver to $650M, extends to 2031; plans $500M notes due 2034 to refinance 8.5% Diamond Notes

Noble Corp plc June 1, 2026, 8:04 AM ET debt Items 1.01, 2.03, 8.01, 9.01

same SEC item: 1.01, 2.03, 8.01, 9.01 same event type: debt similar materiality

CNL Strategic Residential Credit Amends Loan Agreement with Valley National Bank, Adds $5M Non-Formula Revolving Line

CNL Strategic Residential Credit, Inc. May 26, 2026, 4:57 PM ET debt Items 1.01, 2.03, 8.01, 9.01

same SEC item: 1.01, 2.03, 8.01, 9.01 same event type: debt similar materiality

SST

System1 exchanges $302.6M debt for $150M term loan, $39.3M preferred stock, and cash

System1, Inc. June 1, 2026, 9:00 AM ET debt Items 1.01, 2.03, 3.02, 7.01, 9.01