EVCO
EVEREST CONSOLIDATOR A
stock OTC

I (and other shareholders) have been in discussions with the company for over a year now. They first proposed this solution in May 2025 and it was finally paid out today. Shareholders who participated had to sign a waiver and voting agreement and then reverse 20% of the shares from their November 2024 redemption and then were paid out redemption value on 80% of the shares. So if you redeemed 10,000 shares in November 2024, you got paid on 8,000 of them at full NAV ($12.13) and you now hold 2,000 public shares of EVCO, which will eventually be eligible for redemption / liquidation payout in the future unless their auditor wins and seizes the remaining trust. It was not 80% of holders, it was 80% of redeemed shares. If you just held shares though and did not redeem in 2024, you didn't get redeemed obviously.

Everest Consolidator Acquisition Corp (formerly MNTN, now trading under EVCO) finally paid out some of the redemptions yesterday for the extension vote in November 2024. They paid out NAV ($12.13) for 80% of shares of the shares submitted for redemption in 2024. The remaining 20% will only be paid if they successfully dismiss lawsuits brought against them by their auditor/accountant, who is suing them for unpaid bills. The plaintiffs obtained a TRO on the trust which have been in place for 14 months now and so the SPAC hasn't been able to pay redemptions until now. TRO still in place but they came to agreement to pay out some of the trust while leaving enough in the account (around $3.5M, 20%) to settle the amount the auditor is suing for.
Remaining 20% is probably a zero...even SPAC NAVs are not completely safe!

I (and other shareholders) have been in discussions with the company for over a year now. They first proposed this solution in May 2025 and it was finally paid out today. Shareholders who participated had to sign a waiver and voting agreement and then reverse 20% of the shares from their November 2024 redemption and then were paid out redemption value on 80% of the shares. So if you redeemed 10,000 shares in November 2024, you got paid on 8,000 of them at full NAV ($12.13) and you now hold 2,000 public shares of EVCO, which will eventually be eligible for redemption / liquidation payout in the future unless their auditor wins and seizes the remaining trust. It was not 80% of holders, it was 80% of redeemed shares. If you just held shares though and did not redeem in 2024, you didn't get redeemed obviously.

Everest Consolidator Acquisition Corp (formerly MNTN, now trading under EVCO) finally paid out some of the redemptions yesterday for the extension vote in November 2024. They paid out NAV ($12.13) for 80% of shares of the shares submitted for redemption in 2024. The remaining 20% will only be paid if they successfully dismiss lawsuits brought against them by their auditor/accountant, who is suing them for unpaid bills. The plaintiffs obtained a TRO on the trust which have been in place for 14 months now and so the SPAC hasn't been able to pay redemptions until now. TRO still in place but they came to agreement to pay out some of the trust while leaving enough in the account (around $3.5M, 20%) to settle the amount the auditor is suing for.
Remaining 20% is probably a zero...even SPAC NAVs are not completely safe!