Thu, Mar 27, 9:28 PM (31 days ago)
**Summary of Willow Lane Acquisition Corp. (WLAC) 10-K Filing** **Company Overview:** Willow Lane Acquisition Corp. (WLAC) is a Cayman Islands exempted company formed on July 3, 2024, to effect a business combination with one or more businesses. As of December 31, 2024, WLAC had not commenced any operations and its activities were limited to organizational efforts, preparing for and consummating the Initial Public Offering (IPO), and identifying a target company for a business combination. **Financial Performance:** - **Revenue:** WLAC has not generated any operating revenues to date and does not expect to do so until after the completion of its initial business combination. - **Net Income:** For the period from July 3, 2024, through December 31, 2024, WLAC reported a net income of $116,890, consisting of interest earned on marketable securities held in the Trust Account of $283,921, offset by operating expenses of $167,031. - **Earnings per Share:** Basic and diluted net income per share for Class A Ordinary Shares was $0.02, and for Class B Ordinary Shares was $0.02. **Operating Expenses:** WLAC incurred general and administrative expenses of $167,031 for the period from July 3, 2024, through December 31, 2024. **Initial Public Offering (IPO):** - **Proceeds:** On November 12, 2024, WLAC consummated its IPO of 12,650,000 units, including the full exercise of the Over-Allotment Option in the amount of 1,650,000 Option Units, at $10.00 per Unit, generating gross proceeds of $126,500,000. - **Trust Account:** Following the IPO, a total of $126,879,500 was placed in the Trust Account, maintained by Continental, acting as trustee. **Strategic Overview:** WLAC seeks to acquire established businesses with scale, positive EBITDA, and sustainable cash flows, led by a highly regarded management team. The company's management team has extensive experience in strategic planning and corporate development. **Future Outlook:** WLAC must complete its initial business combination by November 12, 2026, unless it decides to pursue an amendment to its Amended and Restated Charter to extend the Combination Period. If WLAC does not complete its initial business combination within the Combination Period, it will redeem the Public Shares and liquidate. **Risk Factors:** - **Market Risks:** WLAC's ability to complete a business combination is subject to market conditions, economic factors, and regulatory changes. - **Competition:** WLAC faces competition from other SPACs, private equity groups, and public companies seeking strategic acquisitions. - **Financial Condition:** WLAC's financial condition is dependent on the successful completion of a business combination and the ability to maintain its listing on Nasdaq. **Market Position Changes:** WLAC's units, public shares, and public warrants are traded on the Global Market tier of Nasdaq under the symbols "WLACU," "WLAC," and "WLACW," respectively. As of March 27, 2025, there were 12,650,000 Class A Ordinary Shares and 4,628,674 Class B Ordinary Shares issued and outstanding. **Note:** Amounts are in thousands, 000s.