Company: WLACW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001493152-25-011863
Chunk: 22

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 22
---

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 the Option Units). This amount was paid at the closing of the Initial Public Offering. Additionally,
the underwriters are entitled to a deferred underwriting discount of $4,427,500 (3.50% of the gross proceeds of the Initial Public Offering
held in the Trust Account, including the proceeds from the Option Units) upon the completion of the Company’s initial Business
Combination, subject to the terms of the underwriting agreement, dated November 7, 2024, that the Company entered into with BTIG as the
representative of the several underwriters. Such deferred underwriting discount 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.

Note
7 — Shareholders’ Deficit

Preference
Shares

The
Company is authorized to issue a total of 5,000,000 preference shares at par value of $0.0001 each. As of June 30, 2025 and December
31, 2024, there were no preference shares issued or outstanding.

Class
A Ordinary Shares

The
Company is authorized to issue a total of 500,000,000 Class A Ordinary Shares at par value of $0.0001 each. As of June 30, 2025 and December
31, 2024, there were no shares of Class A Ordinary Shares issued or outstanding, excluding 12,650,000 Class A Ordinary Shares subject
to possible redemption.

Class
B Ordinary Shares

The
Company is authorized to issue a total of 50,000,000 Class B Ordinary Shares at par value of $0.0001 each. On July 17, 2024, the Sponsor
purchased, and the Company issued to the Sponsor, 4,364,250 Class B Ordinary Shares for $25,000, or approximately $0.006 per share. Subsequently,
on September 27, 2024, the Company through a share capitalization issued to the Sponsor an additional 264,424 fully paid Class B Ordinary
Shares; consequently, the Sponsor has purchased and holds an aggregate of 4,628,674 Class B Ordinary Shares. Following and because of
that capitalization and issuance of additional Class B Ordinary Shares