Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 17

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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ANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

Class
A Ordinary Shares Subject to Possible Redemption

The
Public Shares contain a redemption feature that allows for the redemption of such Public Shares in connection with the Company’s
liquidation, or if there is a shareholder vote or tender offer in connection with the initial Business Combination. In accordance with
section FASB ASC Topic 480-10-S99, “Distinguishing Liabilities from Equity,” the Company classifies Class A Ordinary Shares
subject to redemption outside of permanent deficit as the redemption provisions are not solely within the control of the Company. The
Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal
the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized
the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable Class A Ordinary Shares
resulted in charges against additional paid-in capital (to the extent available) and an accumulated deficit. Accordingly, as of September
30, 2025 and December 31, 2024, Class A Ordinary Shares subject to possible redemption are presented at redemption value as temporary
equity, outside of the shareholders’ deficit section of the accompanying condensed balance sheets. As of September 30, 2025 and
December 31, 2024, the Class A Ordinary Shares subject to redemption reflected in the accompanying condensed balance sheets are reconciled
in the following table:

 Schedule of Class A Ordinary Shares Subject to Redemption

    Class A Ordinary Shares subject to possible redemption, December 31, 2024 
    $- 

    Gross proceeds 
    $126,500,000 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (822,250)
  
    Class A Ordinary Shares issuance costs 
     (7,466,569)
  
    Plus: 

    Accretion for Class A Ordinary Shares to redemption amount 
     8,952,240 
  
    Class A Ordinary Shares subject to possible redemption, December 31, 2024 
    $127,163,421 
  
    Plus: 

    Accretion for Class A Ordinary Shares to redemption amount 
     1,363,977 
  
    Class A Ordinary Shares subject to possible redemption, March 31, 2025 
     128