Willow Lane Acquisition Corp. II reported an insider purchase of Class A ordinary shares associated with its sponsor. Willow Lane Sponsor II, LLC acquired 370,305 Class A ordinary shares at $10.00 per share, and is the record holder of these securities. B. Luke Weil, the company’s Chief Executive Officer and managing member of the sponsor, may be deemed to beneficially own these shares through the sponsor but disclaims beneficial ownership beyond any pecuniary interest.
Willow Lane Acquisition Corp. II completed its initial public offering of 14,375,000 units at $10.00 per unit, including full exercise of the underwriters’ over-allotment, for gross proceeds of $143,750,000. Each unit includes one Class A ordinary share and one-fourth of a redeemable warrant exercisable at $11.50 per share.
The company simultaneously sold 514,055 private placement units for $5,140,550 to its sponsor and the representative, and placed $143,750,000 into a U.S. trust account. New independent directors were appointed, key board committees formed, indemnification agreements executed, and amended and restated governing documents filed in connection with the IPO.