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

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 September 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 September 30, 2025
and December 31, 2024, there were no Class A Ordinary Shares issued or outstanding, excluding 12,650,000 Class A Ordinary Shares subject
to possible redemption.

    15

WILLOW
LANE ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

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, the Sponsor is deemed to have purchased the Class B Ordinary
Shares for $0.005 per share. As of September 30, 2025 and December 31, 2024, there were 4,628,674 Class B Ordinary Shares issued and
outstanding.

The
Founder Shares will automatically convert into Class A Ordinary Shares concurrently with or immediately following the consummation of
the initial Business Combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions,
share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the
case that additional Class A Ordinary Shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts
sold in the Initial Public Offering and related to or in connection with the closing of the initial Business Combination, the ratio at
which Class B Ordinary Shares convert into Class A Ordinary