Company: WLACW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001493152-25-011863
Chunk: 26

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 business
days following the Company’s initial Business Combination and to maintain a current prospectus relating to the Class A Ordinary
Shares issuable upon exercise of the Warrants until the expiration of the Warrants in accordance with the provisions of the Warrant Agreement.
If a registration statement covering the Class A Ordinary Shares issuable upon exercise of the Warrants is not effective by the sixtieth
(60th) business day after the closing of the initial Business Combination, warrant holders may, until such time as there is
an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement,
exercise Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding
the above, if the Class A Ordinary Shares are at the time of any exercise of a Warrant not listed on a national securities exchange such
that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at
its option, require holders of Public Warrants who exercise their Public Warrants to do so on a “cashless basis” in accordance
with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain
in effect a registration statement, and in the event the Company does not so elect, the Company will use its commercially reasonable
efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

If
the holders exercise their Public Warrants on a cashless basis, they would pay the warrant exercise price by surrendering the Public
Warrants for that number of Class A Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Class
A Ordinary Shares issuable upon exercise of the Public Warrants, multiplied by the excess of the “fair market value” of the
Class A Ordinary Shares over the exercise price of the Public Warrants by (y) the fair market value. The “fair market value”
is the average reported closing price of the Class A Ordinary Shares for the 10 trading days ending on the third trading day prior to
the date on which the notice of exercise is received by the warrant agent or on which the notice of redemption is sent to the holders
of Public Warrants, as applicable.

The
Company may redeem the outstanding Public Warrants:

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