Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 33

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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The
CODM reviews interest earned on the Trust Account to measure and monitor shareholder value and determine the most effective strategy
of investment with the Trust Account funds while maintaining compliance with the Investment Management Trust Agreement, dated November
7, 2024, which the Company entered into with Continental, as trustee of the Trust Account. General and administrative expenses are reviewed
and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a Business Combination within
the Business Combination period. General and administrative costs, as reported on the statements of operations, are the significant segment
expenses provided to the CODM on a regular basis. All other segment items included in net income or loss are reported on the accompanying
unaudited condensed statements of operations and described within their respective disclosures.

Note
10 — Subsequent Events

The
Company evaluated subsequent events and transactions that occurred after the accompanying condensed balance sheet date through the date
that the accompanying condensed financial statements were issued. Based upon this review, other than as set forth below, the Company
did not identify any subsequent events that would have required adjustment or disclosure in the accompanying unaudited condensed financial
statements.

On
October 17, 2025, the Company and BTIG entered into an amendment to the Underwriting Agreement (the “Amendment”), pursuant
to which the Deferred Fee of 3.5% of the IPO Proceeds payable to the Underwriters under the Underwriting Agreement upon the occurrence
of the Specified Event (as defined in the Underwriting Agreement) shall be comprised of the following components: (i) a gross spread
of 2.25% of the IPO Proceeds, payable to the Underwriters in cash, (ii) a gross spread of up to 0.75% of the IPO Proceeds, payable to
the Underwriters in cash, such amount to be based on the funds available in the Trust Account after redemptions of Public Shares, solely
in the event that the Company completes an initial Business Combination and (iii) a gross spread of 0.5% of the IPO Proceeds (the “Allocable
Amount”), payable to BTIG in cash, provided that the Sponsor or the Company shall have the right to allocate (in their sole discretion)
any portion of the Allocable Amount to pay for expenses incurred by the Company in consummating an initial Business Combination.

In
addition, the Amendment provides that each Underwriter may, prior to the Specified Event and at its sole discretion