Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 41

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 repay such Working Capital Loans, except to the extent that the lender opts to convert such Working Capital
Loans into warrants, as described below. In the event that a Business Combination does not close,
we may use a portion of the working capital held outside the Trust Account to repay such Working Capital Loans, but no proceeds from
our Trust Account would be used for such repayment. Up to $1,500,000 of such Working Capital Loans may be converted into warrants of
the post-Business Combination entity at a price of $1.00 per warrant. 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. As of September 30, 2025 and December 31, 2024, no such Working Capital Loans were outstanding.

Going
Concern

In
connection with our assessment of going concern considerations in accordance with ASU 2014-15, we have determined that our Company
has incurred and expects to continue to incur significant costs in pursuit of our acquisition plans. There is no assurance that our
plans to raise additional capital will be successful. We lack the financial resources we need to sustain operations for a reasonable
period of time, which is considered to be one year from the date of the issuance of the unaudited condensed financial statements and
notes thereto included in this Report under Item 1. “Financial Statements”. We have until November 12, 2026, to
consummate a Business Combination unless we elect to seek to extend the Combination Period consistent with applicable laws,
regulations and stock exchange rules and with the Amended and Restated Articles. Such an extension requires the approval of our
shareholders, who will be provided the opportunity at that time to redeem all or a portion of their Public Shares (which would
likely have a material adverse effect on the amount held in the Trust Account and other adverse effects on our Company). Should a
Business Combination not occur, there may be a mandatory liquidation and subsequent dissolution of our Company. These conditions raise substantial
doubt about our ability to continue as a going concern. The condensed financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

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