Company: WLACW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010349
Chunk: 32

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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500,000
of such Working Capital Loans may be convertible into warrants of the post-Business Combination entity at a price of $1.00 per warrant
at the option of the lender. The warrants would be identical to the Private Placement Warrants. Other than as set forth above, the terms
of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such Working Capital
Loans. There were no Working Capital Loans outstanding as of March 31, 2025 and December 31, 2024.

We
do not believe we will need to raise additional funds in order to meet the expenditures required for operating our business. However,
if our estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination
are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our initial
Business Combination. Moreover, we may need to obtain additional financing either to complete our Business Combination or because we
become obligated to redeem a significant number of our Public Shares upon completion of our Business Combination, in which case we may
issue additional securities or incur debt in connection with such Business Combination.

Contractual Obligations

We
do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities, other than as set forth
below.

Administrative
Services Agreement

Pursuant
to the Administrative Services Agreement, commencing on November 8, 2024, through the earlier of consummation of the initial Business
Combination and our liquidation we pay an affiliate of the Sponsor an aggregate of $10,000 per month for office space, utilities, and
secretarial and administrative support. For the three months ended March 31, 2025, we incurred and paid $30,000 in fees for these services
pursuant to the Administrative Services Agreement.

16

Underwriting
Agreement

Pursuant
to the Underwriting Agreement, the underwriters of the Initial Public Offering 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 and purchased the
additional 1,650,000 Option Units at a price