Company: WLACW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001493152-25-011863
Chunk: 16

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 Class A Ordinary Shares issuance costs 
     (7,466,569)
  
    Plus: 

    Accretion for Class A Ordinary Shares to redemption amount 
     8,952,240 
  
    Class A Ordinary Shares subject to possible redemption, December 31, 2024 
    $127,163,421 
  
    Plus: 

    Accretion for Class A Ordinary Shares to redemption amount 
     1,363,977 
  
    Class A Ordinary Shares subject to possible redemption, March 31, 2025 
     128,527,398 
  
    Plus: 

    Accretion for Class A Ordinary Shares to redemption amount 
     1,374,969 
  
    Class A Ordinary Shares subject to possible redemption,
    June 30, 2025 
    $129,902,367 

Net
Income Per Ordinary Share

The
Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has
two classes of Ordinary Shares: Class A Ordinary Shares and Class B Ordinary Shares. Income and losses are shared pro rata between the
two classes of Ordinary Shares. This presentation assumes a Business Combination as the most likely outcome. Net income per Ordinary
Share is calculated by dividing the net income by the weighted average Ordinary Shares outstanding for the respective period.

    8

WILLOW
LANE ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

(Unaudited)

The
calculation of diluted net income per Ordinary Share does not consider the effect of the Warrants issued in connection with the Initial
Public Offering and the Private Placement to purchase an aggregate of 11,470,722
Class A Ordinary Shares in the calculation of
diluted income per Ordinary Share, because their exercise is contingent upon future events. As a result, diluted net income per Ordinary
Share is the same as basic net income per Ordinary Share for the three and six months ended June 30, 2025. Accretion associated with
the redeemable Class A Ordinary Shares is excluded from earnings per Ordinary Share as the redemption value approximates fair value.

The
following tables present a reconciliation of the numerator and denominator used to compute basic and diluted net income per Ordinary
Share for each class of Ordinary Shares:

 Schedule of Reconciliation of the Numerator and Denominator Used to Compute