Company: WLACW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010349
Chunk: 69

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 Capital Loans outstanding as of March 31, 2025 and December 31, 2024.

We
do not believe we will need to raise additional funds in order to meet the expenditures required for operating our business. However,
if our estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination
are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our initial
Business Combination. Moreover, we may need to obtain additional financing either to complete our Business Combination or because we
become obligated to redeem a significant number of our Public Shares upon completion of our Business Combination, in which case we may
issue additional securities or incur debt in connection with such Business Combination.

Contractual Obligations

We
do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities, other than as set forth
below.

Administrative
Services Agreement

Pursuant
to the Administrative Services Agreement, commencing on November 8, 2024, through the earlier of consummation of the initial Business
Combination and our liquidation we pay an affiliate of the Sponsor an aggregate of $10,000 per month for office space, utilities, and
secretarial and administrative support. For the three months ended March 31, 2025, we incurred and paid $30,000 in fees for these services
pursuant to the Administrative Services Agreement.

16

Underwriting
Agreement

Pursuant
to the Underwriting Agreement, the underwriters of the Initial Public Offering had a 45-day option from the date of the Initial Public
Offering to purchase up to an additional 1,650,000 Option Units to cover over-allotments, if any. On November 12, 2024, simultaneously
with the closing of the Initial Public Offering, the underwriters elected to fully exercise the Over-Allotment Option and purchased the
additional 1,650,000 Option Units at a price of $10.00 per Unit.

The
underwriters were entitled to a cash underwriting discount of $2,530,000 (2.0% of the gross proceeds of the Units offered in the Initial
Public Offering, including the proceeds from sale of the Option Units). This amount was paid at the closing of the Initial Public Offering.
Additionally, the underwriters are entitled to an additional fee of $4,427,500 (3.50%