Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 27

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 meaning, following the initial Business Combination, the holders of more than 50%
of the Ordinary Shares voted for the appointment of directors can elect all of the directors. Prior to the consummation of the initial
Business Combination, only holders of the Class B Ordinary Shares (i) have the right to vote on the appointment and removal of directors
and (ii) are entitled to vote on continuing the Company in a jurisdiction outside the Cayman Islands (including any special resolution
required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of approving a transfer
by way of continuation in a jurisdiction outside the Cayman Islands). Holders of Class A Ordinary Shares are not entitled to vote on
these matters during such time. These provisions of the Amended and Restated Articles may only be amended if approved by a special resolution
passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the consummation of the initial Business
Combination, two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed,
by proxy at the applicable general meeting of the Company. 

    16

WILLOW
LANE ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

Warrants

As
of September 30, 2025 and December 31, 2024, there were 11,470,722 Warrants outstanding, including 6,325,000 Public Warrants and 5,145,722
Private Placement Warrants. Each whole Warrant entitles the holder to purchase one Class A Ordinary Share at a price of $11.50 per share,
subject to adjustment as discussed herein. The Warrants cannot be exercised until 30 days after the completion of the initial Business
Combination, and will expire at 5:00 p.m., New York City time, five years after the completion of the initial Business Combination or
earlier upon redemption or liquidation.

The
Company will not be obligated to deliver any Class A Ordinary Shares pursuant to the exercise of a Warrant and will have no obligation
to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the Class A Ordinary Shares
issuable upon exercise of the Warrants is then effective and a prospectus relating thereto is