Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 9

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on
deposit in the Trust Account, including interest earned 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.

    7

WILLOW
LANE ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

The
Sponsor and the Company’s officers and directors have entered into a letter agreement with the Company, dated November 7, 2024
(as amended, the “Letter Agreement”), pursuant to which they have agreed to (i) waive their redemption rights with respect
to their Founder Shares (as defined in Note 5) and Public Shares in connection with (x) 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 and (y) a shareholder vote to approve
an amendment to the Amended and Restated Articles to modify (1) the substance or timing of the Company’s obligation to allow redemption
in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company has not consummated an initial
Business Combination within the Combination Period or (2) any other material provisions relating to shareholders’ rights or pre-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 Articles; (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