Company: WLACW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010349
Chunk: 40

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 40
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NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 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”). The Company has
not selected any specific Business Combination target.

As
of March 31, 2025, the Company had not commenced any operations. All activity for the period from July 3, 2024 (inception) through March
31, 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 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 underwriters of 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, which is discussed in Note 3 (the “Initial Public Offering”). Each Unit consists of one Class
A ordinary share, par value $0.0001 per share, of the Company (the “Class A Ordinary Shares” and