Company: WLACW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010349
Chunk: 24

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 ●
    upon
    a minimum of 30 days’ prior written notice of redemption; and

    ●
    if,
    and only if, the closing price of the Class A Ordinary Shares equals or exceeds $18.00 per share (as adjusted for adjustments to
    the number of shares issuable upon exercise or the exercise price of a warrant) for any 20 trading days within a 30-trading day period
    commencing at least 30 days after completion of the initial Business Combination and ending three business days before we send the
    notice of redemption to the warrant holders.

Additionally,
if the number of outstanding Class A Ordinary Shares is increased by a share capitalization payable in Class A Ordinary Shares, or by
a sub-division of Ordinary Shares or other similar event, then, on the effective date of such share capitalization, sub-division or similar
event, the number of Class A Ordinary Shares issuable upon exercise of each Warrant will be increased in proportion to such increase
in the outstanding Ordinary Shares. A rights offering made to all or substantially all holders of Ordinary Shares entitling holders to
purchase Class A Ordinary Shares at a price less than the fair market value will be deemed a share capitalization of a number of Class
A Ordinary Shares equal to the product of (i) the number of Class A Ordinary Shares actually sold in such rights offering (or issuable
under any other equity securities sold in such rights offering that are convertible into or exercisable for Class A Ordinary Shares)
and (ii) the quotient of (x) the price per Class A Ordinary Share paid in such rights offering and (y) the fair market value. For these
purposes (i) if the rights offering is for securities convertible into or exercisable for Class A Ordinary Shares, in determining the
price payable for Class A Ordinary Shares, there will be taken into account any consideration received for such rights, as well as any
additional amount payable upon exercise or conversion and (ii) fair market value means the volume weighted average price of Class A Ordinary
Shares as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the Class A Ordinary
Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

    12

WILLOW LANE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025