Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 28

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 current. No Warrant will be exercisable
and the Company will not be obligated to issue a Class A Ordinary Share upon exercise of a Warrant unless the Class A Ordinary Share
issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence
of the registered holder of the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied
with respect to a Warrant, the holder of such Warrant will not be entitled to exercise such Warrant and such Warrant may have no value
and expire worthless. In no event will the Company be required to net cash settle any Warrant. In the event that a registration statement
is not effective for the exercised Warrants, the purchaser of a Unit containing such Warrant will have paid the full purchase price for
the Unit solely for the Class A Ordinary Share underlying such Unit.

Under
the terms of the Warrant Agreement, dated November 7, 2024 that the Company entered into with Continental (the “Warrant Agreement”),
the Company has agreed that, as soon as practicable, but in no event later than 20 business days, after the closing of its Business Combination,
it will use its commercially reasonable efforts to file with the SEC a post-effective amendment to the IPO Registration Statement or
a new registration statement covering the registration under the Securities Act of the Class A Ordinary Shares issuable upon exercise
of the Warrants and thereafter will use its commercially reasonable efforts to cause the same to become effective within 60 business
days following the initial Business Combination and to maintain a current prospectus relating to the Class A Ordinary Shares issuable
upon exercise of the Warrants until the expiration of the Warrants in accordance with the provisions of the Warrant Agreement. If a registration
statement covering the Class A Ordinary Shares issuable upon exercise of the Warrants is not effective by the sixtieth (60th)
business day after the closing of the initial Business Combination, warrant holders may, until such time as there is an effective registration
statement and during any period when the Company will have failed to maintain an effective registration statement, exercise Warrants
on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the
above, if the Class A Ordinary Shares are at the time of any exercise of a Warrant not listed on a national securities exchange such
that they satisfy the definition of a “covered