Sidley represented the Avalanche Foundation on strategic transaction in a US$675 million digital asset treasury company with Avalanche Treasury Co. (AVAT) and Mountain Lake Acquisition Corp. (Nasdaq: MLAC). AVAT is an ecosystem-aligned digital asset treasury company with an exclusive relationship with the Avalanche Foundation.
The transaction includes approximately US$460 million in treasury assets, following AVAT’s equity private placement financing, and is designed to create a leading public vehicle for institutional AVAX exposure. The combined company expects to list on Nasdaq in the first quarter of 2026, subject to regulatory and shareholder approval.
This transaction builds upon an exclusive relationship with the Avalanche Foundation and is structured to provide U.S. investors with a discounted entry point into its AVAX tokens, as well as priority access to Avalanche Foundation sales. Through this arrangement, AVAT is positioned as a strategic partner in the Avalanche network and an active participant in supporting ecosystem growth, advancing token utility, and broadening institutional adoption.
The Sidley team was led by partners Lilya Tessler (Fintech and Blockchain), Sonia Gupta Barros and J. David Stewart (Capital Markets), with support from Teresa Wilton Harmon (Global Finance), Erika Cabo (Securities Enforcement and Regulatory), Mara Alioto (Global Finance), Jason Hyatt (Capital Markets), Mark Pemberton (M&A), Nicholas V. Sgroi (Capital Markets), and Reina Won (Securities Enforcement and Regulatory).
