Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 20

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 of the Initial Public Offering, the Sponsor, BTIG and Craig-Hallum purchased an aggregate of 5,145,722 Private Placement
Warrants at a price of $1.00 per Private Placement Warrant, or $5,145,722 in the aggregate, in the Private Placement. Of those 5,145,722
Private Placement Warrants, the Sponsor purchased 4,007,222 Private Placement Warrants and BTIG and Craig-Hallum, together, purchased
an aggregate of 1,138,500 Private Placement Warrants. Each whole Private Placement Warrant entitles the registered holder to purchase
one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment.

The
Private Placement Warrants are identical to the Public Warrants sold in the Initial Public Offering except that, so long as they are
held by the Sponsor, BTIG and Craig-Hallum, or their permitted transferees, the Private Placement Warrants (i) may not (including the
Class A Ordinary Shares issuable upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred,
assigned or sold by the holders until 30 days after the completion of the initial Business Combination, (ii) are entitled to registration
rights and (iii) with respect to Private Placement Warrants held by the BTIG and Craig-Hallum and/or their designees, are not exercisable
more than five years from the commencement of sales in the Initial Public Offering in accordance with Financial Industry Regulatory Authority
Rule 5110(g)(8).

Note
5 — Related Party Transactions

Founder
Shares

On
July 17, 2024, the Sponsor purchased, and the Company issued 4,364,250 of the Company’s Class B ordinary shares, par value $0.0001 per
share (the “Class B Ordinary Shares”, and together with the Class A Ordinary Shares, the “Ordinary Shares”),
to the Sponsor (such shares, the “Founder Shares”) for $25,000, or approximately $0.006 per share. Subsequently, on September
27, 2024, the Company through a share capitalization issued to the Sponsor an additional 264,424 fully paid Class B Ordinary Shares;
consequently, the Sponsor has purchased and holds an aggregate of 4,628,674 Class B Ordinary Shares. Following and because of that capitalization
and issuance of additional Class B Ordinary Shares, the Sponsor is deemed