Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 59

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 59
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 September 30, 2024, we did not incur fees
for these services.

Underwriting
Agreement

Pursuant
to the Underwriting Agreement, the Underwriters 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 IPO Proceeds, 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 up to $4,427,500 (3.50% of the IPO Proceeds held in the Trust Account, including proceeds from the
sale of the Option Units) upon the completion of the initial Business Combination, subject to the terms of the Underwriting
Agreement, as amended by the Underwriting Agreement Amendment, but such Deferred Fee shall be based partly on amounts remaining in
the Trust Account following all properly submitted shareholder redemptions in connection with the consummation of the initial
Business Combination.

24

Registration
Rights

The
holders of (i) the Founder Shares, (ii) the Private Placement Warrants and (iii) any private placement-equivalent warrants issued in
connection with the Working Capital Loans, if any (and in each case holders of their underlying securities, as applicable) are entitled
to registration rights pursuant to the Registration Rights Agreement, requiring us to register such securities for resale (in the case
of the Founder Shares, only after conversion to our Class A Ordinary Shares). The holders of the majority of these securities are entitled
to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy-back”
registration rights with respect to registration statements filed subsequent to the consummation of a Business Combination and rights
to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. BTIG and Craig-Hallum may only make
a demand on one occasion and only during the five-year period beginning