Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 5

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 5
---
 condensed financial statements.

5

WILLOW
LANE ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

Note
1 — Organization and Business Operations

Willow
Lane Acquisition Corp. (the “Company”) is a blank check company incorporated as a Cayman Islands exempted corporation on
July 3, 2024. The Company was incorporated for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more businesses (the “Business Combination”).

As
of September 30, 2025, the Company had not commenced any operations. All activity for the period from July 3, 2024 (inception) through
September 30, 2025, relates to the Company’s formation and the Initial Public Offering (as defined below), and subsequent to the
Initial Public Offering, identifying a target company for and consummating a Business Combination. The Company will not generate any
operating revenues until after the completion of its initial Business Combination, at the earliest. The Company generates non-operating
income in the form of interest income on investments from the proceeds derived from the Initial Public Offering. The Company has selected
December 31 as its fiscal year end.

The
Company’s sponsor is Willow Lane Sponsor, LLC, a Delaware limited liability Company (the “Sponsor”).

The
Registration Statement on Form S-1 for the Initial Public Offering, initially filed with the U.S. Securities and Exchange Commission
(the “SEC”) on October 3, 2024, as amended (File No. 333-282495), was declared effective on November 7, 2024 (the “IPO
Registration Statement”). On November 12, 2024, the Company consummated the initial public offering of 12,650,000 units of the
Company at $10.00 per unit (the “Units”), which included the full exercise by the several underwriters of the Initial Public
Offering (the “Underwriters”) their over-allotment option (the “Over-Allotment Option”) in the amount of 1,650,000
Units (the “Option Units”), at $10.00 per Unit, generating gross proceeds of $126,500,000 (the “Initial Public Offering”,
and such proceeds, the “IPO Proceeds