Company: FORL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045609
Chunk: 32

Company: Four Leaf Acquisition Corp
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 32
---
 issued, but not yet effective, accounting standards, if currently adopted, would have a material impact on the Company’s
unaudited condensed financial statements. 

NOTE
3 – INITIAL PUBLIC OFFERING 

On March
16, 2023, the Company sold 5,200,000 Units at a price of $10.00 per Unit. Each Unit consists of one share of Class A common stock and
one Public Warrant. Each Public Warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share.
Each Public Warrant will become exercisable 30 days after the completion of the initial business combination and will expire five years
after the completion of the initial business combination, or earlier upon redemption or liquidation (see Note 7). In connection with the
IPO, the Company also granted the underwriters a 45-day option to purchase an additional 780,000 Units at the IPO price. 

On March
17, 2023, the underwriters exercised their option to purchase 221,000 additional Units for the total amount of $2,210,000. The remaining
over-allotment option for 559,000 Units expired on April 30, 2023.

18

NOTE
4 – PRIVATE PLACEMENT 

On March
16, 2023, in the private placement that occurred simultaneously with the IPO, the Sponsor purchased an aggregate of 3,449,500 warrants
(each a “Private Placement Warrant”) at a price of $1.00 per warrant, for an aggregate purchase price of $3,449,500. 

On March
17, 2023, the underwriters partially exercised their over-allotment option resulting in the Company issuing 127,400 Private Placement
Warrants, generating an additional $127,500 in gross proceeds. 

Each Private
Placement Warrant entitles the holder to purchase one share of Class A common stock, subject to adjustment. The proceeds from the Private
Placement of the Private Placement Warrants funded the Trust Account, IPO issuance costs and as well as the operations prior to the business
combination. If the Company does not complete an initial business combination within the Combination Period, the remaining proceeds, after
payments from the sale of the Private Placement Warrants, will be included in the liquidating distribution to the public stockholders
and the Private Placement Warrants will be worthless (see Note 7). 

NOTE
5 – RELATED PARTY TRANSACTIONS