Company: WLACW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010349
Chunk: 44

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 44
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 on the funds held in the Trust Account (less income taxes payable,
if any, and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption
will constitute full and complete payment for the Public Shares and completely extinguish Public Shareholders’ rights as shareholders
(including the right to receive further liquidation or other distributions, if any), subject to the Company’s obligations under
Cayman Islands law to provide for claims of creditors and subject to the other requirements of applicable law.

The
Sponsor, officers and directors have entered into a letter agreement with the Company, dated November 7, 2024 (the “Letter Agreement”),
pursuant to which they have agreed to (i) waive their redemption rights with respect to their (x) Class B ordinary shares of the Company,
par value $0.0001 per share (the “Class B Ordinary Shares,” and together with the Class A Ordinary Shares, the “Ordinary
Shares”), initially purchased by the Sponsor in a private placement prior to the Initial Public Offering (“Founder Shares”)
and (y) Public Shares in connection with the completion of the initial Business Combination or an earlier redemption in connection with
the commencement of the procedures to consummate the initial Business Combination if the Company determines it is desirable to facilitate
the completion of the initial Business Combination; (ii) waive their redemption rights with respect to their Founder Shares and Public
Shares in connection with a shareholder vote to approve an amendment to the Amended and Restated Charter; (iii) waive their rights to
liquidating distributions from the Trust Account with respect to their Founder Shares if the Company fails to complete the initial Business
Combination within the Combination Period, although they will be entitled to liquidating distributions from the Trust Account with respect
to any Public Shares they hold if the Company fails to complete the initial Business Combination within the Combination Period and to
liquidating distributions from assets outside the Trust Account; and (iv) vote any Founder Shares held by them and any Public Shares
purchased during or after the Initial Public Offering (including in open market and privately-negotiated transactions) in favor of the
initial Business Combination.

The
Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party (other than the Company’s
independent public accountants) for services rendered or products sold to the Company, or a prospective target business with which the
Company has entered into