Company: WLACW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001493152-25-011863
Chunk: 18

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 Private Placement Warrants and BTIG and Craig-Hallum, together, purchased
an aggregate of 1,138,500 Private Placement Warrants. Each whole Private Placement Warrant entitles the registered holder to purchase
one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment.

The
Private Placement Warrants are identical to the Public Warrants sold in the Initial Public Offering except that, so long as they are
held by the Sponsor, BTIG and Craig-Hallum, or their permitted transferees, the Private Placement Warrants (i) may not (including the
Class A Ordinary Shares issuable upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred,
assigned or sold by the holders until 30 days after the completion of the initial Business Combination, (ii) will be entitled to registration
rights and (iii) with respect to Private Placement Warrants held by the BTIG and Craig-Hallum and/or their designees, will not be exercisable
more than five years from the commencement of sales in the Initial Public Offering in accordance with Financial Industry Regulatory Authority
Rule 5110(g)(8).

Note
5 — Related Party Transactions

Founder
Shares

On
July 17, 2024, the Sponsor purchased, and the Company issued to the Sponsor, 4,364,250 Class B Ordinary Shares for $25,000, or approximately
$0.006 per share. Subsequently, on September 27, 2024, the Company through a share capitalization issued to the Sponsor an additional
264,424 fully paid Class B Ordinary Shares; consequently, the Sponsor has purchased and holds an aggregate of 4,628,674 Class B Ordinary
Shares. Following and because of that capitalization and issuance of additional Class B Ordinary Shares, the Sponsor is deemed to have
purchased the Class B Ordinary Shares for $0.005 per share.

    9

WILLOW
LANE ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

(Unaudited)

The
number of Founder Shares outstanding was determined based on the expectation that the total size of the Initial Public Offering would
be a maximum of 12,650,000 Units if the Over-Allotment Option was exercised in full, and therefore that such Founder Shares would represent
approximately 26.79% of the issued and outstanding