Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 6

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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”), which is discussed in Note 3. Each Unit consists of one Class A ordinary share, par
value $0.0001 per share, of the Company (the “Class A Ordinary Shares” and with respect to the Class A Ordinary Shares included
in the Units, the “Public Shares”) and one-half of one redeemable warrant of the Company (the “Public Warrants”).

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of an aggregate of 5,145,722 warrants (the “Private
Placement Warrants,” and together with the Public Warrants, the “Warrants”) at a price of $1.00 per Private Placement
Warrant, in a private placement to (i) the Sponsor, (ii) BTIG, LLC, representative of the Underwriters (“BTIG”) and (iii)
Craig-Hallum Capital Group LLC, the co-manager of the Initial Public Offering (“Craig-Hallum”), generating gross proceeds
of $5,145,722 (the “Private Placement”), which is described in Note 4. Each whole Warrant entitles the holder to purchase
one Class A Ordinary Share at a price of $11.50 per share.

The
Company’s management (“Management”) has broad discretion with respect to the specific application of the net proceeds
of the Initial Public Offering and the Private Placement, although substantially all of the net proceeds are intended to be generally
applied toward consummating a Business Combination (less the Deferred Fee (as defined in Note 6) and taxes payable, if any).

Transaction
costs amounted to $7,538,114,
consisting of $2,530,000
of cash underwriting fees, the Deferred Fee of up to $4,427,500,
and $580,614 of
other offering costs.

The
Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the net
balance in the Trust Account (as defined below) (excluding the amount of the Deferred Fee held and income taxes payable on the income
earned on the Trust Account) at the time of the signing an agreement to enter into a Business Combination. However, the Company will
only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting
securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be