Avalanche Treasury Co. (AVAT) has announced a $675 million-plus business combination with Mountain Lake Acquisition Corp. (MLAC), setting the stage for what it hopes will become a $1 billion ecosystem treasury, the company said in a press release Wednesday.

Backed by an exclusive arrangement with the Avalanche Foundation, AVAT begins with a $200 million discounted token sale and plans to list on Nasdaq in early 2026, pending approval.

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