Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 24

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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registration only during the seven-year period beginning on the effective date of the IPO Registration Statement. The Company will bear
the expenses incurred in connection with the filing of any such registration statements.

Underwriting
Agreement

The
Underwriters had a 45-day option from the date of the Initial Public Offering to purchase up to an additional 1,650,000 Option Units
to cover over-allotments, if any. On November 12, 2024, simultaneously with the closing of the Initial Public Offering, the Underwriters
elected to fully exercise the Over-Allotment Option to purchase the additional 1,650,000 Option Units at a price of $10.00 per Option
Unit.

The
Underwriters were entitled to a cash underwriting discount of $2,530,000
(2.0%
of the IPO Proceeds, including the proceeds from the Option Units). This amount was paid at the closing of the Initial Public Offering.
Additionally, the Underwriters are entitled to a deferred underwriting fee of up to $4,427,500
(3.50%
of the IPO Proceeds held in the Trust Account, including the proceeds from the Option Units) upon the completion of the initial Business
Combination (the “Deferred Fee”), subject to the terms of the underwriting agreement, dated November 7, 2024, that the Company
entered into with BTIG as the representative of the Underwriters (the “Underwriting Agreement”). The Deferred Fee shall be
based partly on amounts remaining in the Trust Account following all properly submitted shareholder redemptions in connection with the
consummation of the initial Business Combination.

Advisory Agreement

On September 15, 2025, D.A. Davidson & Co. (“Davidson”)
was engaged by the Company as a capital markets advisor in connection with the Boost Run Business Combination (the “Advisory Agreement”).
For performing the services pursuant to the Advisory Agreement, the Company will pay Davidson a cash fee of $700,000, payable only upon
closing the Boost Run Business Combination, which shall become due immediately upon the closing of the Boost Run Business Combination.
The Advisory Agreement terminates upon the closing of the Boost Run Business Combination, or upon the written notice of either party.

Note
7 — Shareholders’ Deficit

Preference
Shares

The
Company is authorized to issue a total of 5,000,000 preference shares at par value of $0.0001 each. As of