Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 42

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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Administrative
Services Agreement

Pursuant
to the Administrative Services Agreement, commencing on November 8, 2024, through the earlier of consummation of the initial Business
Combination and our liquidation, we pay an affiliate of the Sponsor an aggregate of $10,000 per month for office space, utilities, and
secretarial and administrative support. For the three and nine months ended September 30, 2025, we incurred and paid $30,000 and $90,000
in fees for these services, respectively. For the period from July 3, 2024 (inception) through September 30, 2024, we did not incur fees
for these services.

Underwriting
Agreement

Pursuant
to the Underwriting Agreement, the Underwriters had a 45-day option from the date of the Initial Public Offering to purchase up to an
additional 1,650,000 Option Units to cover over-allotments, if any. On November 12, 2024, simultaneously with the closing of the Initial
Public Offering, the Underwriters elected to fully exercise the Over-Allotment Option and purchased the additional 1,650,000 Option Units
at a price of $10.00 per Unit.

The
Underwriters were entitled to a cash underwriting discount of $2,530,000 (2.0% of the IPO Proceeds, including the proceeds from sale
of the Option Units). This amount was paid at the closing of the Initial Public Offering. Additionally, the Underwriters are
entitled to an additional fee of up to $4,427,500 (3.50% of the IPO Proceeds held in the Trust Account, including proceeds from the
sale of the Option Units) upon the completion of the initial Business Combination, subject to the terms of the Underwriting
Agreement, as amended by the Underwriting Agreement Amendment, but such Deferred Fee 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.

24

Registration
Rights

The
holders of (i) the Founder Shares, (ii) the Private Placement Warrants and (iii) any private placement-equivalent warrants issued in
connection with the Working Capital Loans, if any (and in each case holders of their underlying securities, as applicable) are entitled
to registration rights pursuant to the Registration Rights Agreement, requiring us to