Willow Lane Acquisition Corp. II completed its initial public offering by selling 14,375,000 units at $10.00 per unit, generating gross proceeds of $143,750,000. The offering included the full exercise of the underwriters' overallotment option for 1,875,000 units.
The units began trading on the Nasdaq Global Market on February 13, 2026, under the symbol WLIIU. Each unit comprises one Class A ordinary share and one-fourth of one redeemable warrant. Each whole warrant entitles the holder to acquire one Class A ordinary share at an exercise price of $11.50 per share, subject to customary adjustments.
When the component securities commence separate trading, the company expects its Class A ordinary shares and warrants to be listed on Nasdaq under the symbols WLII and WLIIW, respectively.
The company is organized as a blank check issuer formed to pursue mergers, acquisitions, or similar business combinations. It has stated an intention to target middle market companies led by established management teams that are positioned for growth.
Company leadership and governance were disclosed in the offering documents. B. Luke Weil serves as Chief Executive Officer and Chairman. George Peng is the Chief Financial Officer and Marjorie Hernandez is the Chief Operating Officer. The board of directors includes Simón Gaviria Muñoz, Robert Stevens, Rayne Steinberg, and Mauricio Orellana. A. Lorne Weil is listed as an advisor.
BTIG, LLC acted as the sole book-running manager for the offering. The company placed $143,750,000, comprised of IPO proceeds and a concurrent private placement, into a trust account pending the completion of a business combination.
The registration statement for the offering became effective on January 30, 2026. Ellenoff Grossman & Schole LLP and Ogier (Cayman) LLP served as legal counsel to the company, while Loeb & Loeb LLP represented the underwriters.
Summary
Willow Lane Acquisition Corp. II sold 14,375,000 units at $10.00 each in an offering that included the full exercise of the underwriters' overallotment, raising $143.75 million. Units began trading on Nasdaq on February 13, 2026. Proceeds from the IPO and a simultaneous private placement were deposited into a trust account as the blank check company positions itself to pursue middle market business combinations.
Key points
- The offering size was $143,750,000, including 1,875,000 units issued via the underwriters' overallotment option.
- Units started trading on the Nasdaq Global Market on February 13, 2026, and are composed of one Class A ordinary share plus one-quarter of one redeemable warrant. When separated, the shares and warrants are expected to list as WLII and WLIIW.
- Management and board members were disclosed, and BTIG, LLC served as sole book-running manager. Legal counsel to the company and the underwriters were specified.
Risks and uncertainties
- The company is a blank check issuer that will need to identify and complete a suitable merger or acquisition to achieve its stated business purpose, which creates uncertainty about its future operations and outcomes - this impacts potential investors and the M&A market.
- The separate listing of Class A ordinary shares and warrants is anticipated but not guaranteed; the timing and mechanics of separate trading remain subject to standard market and regulatory processes - this affects investors planning secondary-market strategies.
- IPO proceeds and the concurrent private placement were deposited in a trust account pending a business combination, meaning funds are restricted until a qualifying transaction is completed - this has implications for liquidity and investor realization timelines.
Legal and regulatory milestones
The registration statement became effective on January 30, 2026. Counsel for the issuer and underwriters were named in the offering materials, reflecting the completion of required legal steps for the public offering.