New York, June 2, 2026, 04:18 (EDT)
- Willow Lane Acquisition Corp. II’s Class A shares were last at $10.1801, up 0.3%, ahead of the regular Nasdaq open.
- The latest quarterly filing from the SPAC showed it held $144.1 million in trust assets and had no operating revenue as of March 31.
- SPAC issuance is active in 2026, but target selection and redemption risk are still the big swing factors.
Willow Lane Acquisition Corp. II (WLII) shares sat near flat before the open Tuesday, with investors looking past the price and watching the company’s cash and timeline for a deal. WLII last traded at $10.1801, up 0.3% from its previous close.
That’s important for Willow Lane II, a SPAC. SPACs, or special purpose acquisition companies, go public as cash shells, raising funds before they name a merger target. The share price usually sticks close to the cash in trust up to the point when a deal shows up, terms come out or holders vote.
Nasdaq was still closed in New York before the regular session, which runs 9:30 a.m. to 4:00 p.m. Eastern. The exchange’s 2026 holiday calendar lists Juneteenth on June 19 as the next June shutdown, not June 2.
Willow Lane II in its latest 10-Q said it hasn’t picked a business-combination target yet and hasn’t started operations. The company said it won’t have operating revenue before it finishes an initial business combination—if that happens.
Balance sheet numbers are in focus. The company reported $144.1 million in marketable securities sitting in its trust account as of March 31, along with $1.45 million in cash outside the trust. The trust holds IPO proceeds set aside for a deal or possible redemptions, so investors can request their money back under certain terms.
Willow Lane II reported net income of $75,360 for the quarter ended March 31. The company earned $368,828 in interest on its trust securities, but that was reduced by $160,488 in general and administrative expenses and $132,980 in share-based compensation.
Willow Lane Acquisition Corp. II wrapped up its IPO on Feb. 17, moving 14.375 million units at $10 apiece after underwriters picked up their full overallotment. Each unit includes a Class A ordinary share and a quarter of a redeemable warrant; with a full warrant, investors can buy a share later at $11.50.
Symbols for Willow Lane II are still tripping up some screens. The company said unit holders could split starting April 6. Separated Class A shares will use WLII, and warrants WLIIW. Unsplitted units stay under WLIIU.
Busy market for SPACs as 98 IPOs priced so far in 2026, Boardroom Alpha says
Boardroom Alpha said 98 SPAC IPOs priced in the U.S. in 2026 through June 2, raising $17.15 billion. No June SPAC IPOs had priced through the first two trading sessions.
SPACs made up 69% of U.S. IPO deal volume in the first quarter, FTI Consulting said in a May 11 report, up from 58% in the prior quarter. The firm said this shift shows traditional IPO markets remain selective, and issuers are turning to alternative structures for more flexibility and execution certainty.
SPACs that do little can stay that way, and Willow Lane II faces that risk. The company has until Feb. 17, 2028 to find and close a deal, unless shareholders agree to change the deadline. If there’s no transaction before then, the SPAC will redeem its public shares. Heavy redemptions could cut the cash it needs for a deal, and could also threaten its Nasdaq listing.
