Company: WLACW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021938
Chunk: 60

Company: Willow Lane Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 60
---
 on the effective date of the IPO Registration Statement. In addition,
BTIG and Craig-Hallum may participate in a “piggy-back” registration only during the seven-year period beginning on the effective
date of the IPO Registration Statement. We will bear the expenses incurred in connection with the filing of any such registration statements.

Letter
Agreement

Our
Sponsor, directors and officers have entered into the Letter Agreement with us, pursuant to which, they have waived their rights to liquidating
distributions from the Trust Account with respect to any Founder Shares held by them if we fail to complete our initial Business Combination
within the Combination Period. However, if they acquire Public Shares in or after the Initial Public Offering, they will be entitled
to liquidating distributions from the Trust Account with respect to such Public Shares if we fail to complete our initial Business Combination
within the Combination Period.

Additionally,
pursuant to the Letter Agreement, our Sponsor, directors and officers will not propose any amendment to our Amended and Restated Articles
to modify (i) the substance or timing of our obligation to allow redemption in connection with our initial Business Combination or to
redeem 100% of our Public Shares if we do not complete our initial Business Combination within the Combination Period or (ii) any other
material provisions relating to shareholders’ rights or pre-initial Business Combination activity, unless we provide our Public
Shareholders with the opportunity to redeem their Public Shares upon approval of any such amendment at a per-share price, payable in
cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account
and not previously released to us to pay our taxes, divided by the number of then outstanding Public Shares.

Further, pursuant to the Letter Agreement, our Sponsor, directors and officers
have agreed not to transfer, assign or sell any of their Founder Shares and any Class A Ordinary Shares issued upon conversion thereof
until the earlier to occur of (i) six months after the completion of the initial Business Combination or (ii) the date on which we completes
liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of our shareholders
having the right to exchange their Class A Ordinary Shares for cash, securities or other property. Any permitted transferees will be subject
to the same restrictions and other agreements as our Sponsor, directors and officers with respect to any Founder Shares. Notwithstanding
the foregoing, if (x) the closing price of