Company: FORL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045609
Chunk: 85

Company: Four Leaf Acquisition Corp
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 2
Chunk 85
---
 and into Merger Sub
2 (“Merger 2” and, collectively with Merger 1, the “Mergers”), with Merger Sub 2 being the surviving company and
becoming a wholly-owned subsidiary of Xiaoyu Dida.

25

The below description
of the Merger Agreement and the transactions contemplated thereby is not complete and is subject to and qualified in its entirety by reference
to the actual Merger Agreement, a copy of which is filed with the Current Report on Form 8-K filed on December 19, 2024, as Exhibit
2.1.

Immediately prior to
the Merger 1 Effective Time (as defined in the Merger Agreement): (i) each share of the Company’s Class B common stock shall be
automatically converted into one share of the Company’s Class A common stock in accordance with the terms of the Company’s
Certificate of Incorporation (such automatic conversion, the “Company Class B Conversion”) and each share of Class B common
stock shall no longer be outstanding and shall automatically be canceled, and each former holder of Class B common stock shall thereafter
cease to have any rights with respect to such shares; and (ii) each Unit, which consists of one share of Class A common stock and one
redeemable Public Warrant issued by the Company to purchase shares of Class A common stock at a price of $11.50 per whole share outstanding
immediately prior to the Merger 1 Effective Time shall be automatically detached and the holder thereof shall be deemed to hold one share
of Class A common stock and one Public Warrant in accordance with the terms of the applicable Units (the “Unit Separation”). 

Immediately after giving
effect to the Unit Separation and the Four Leaf Class B Conversion, at the Merger 1 Effective Time, each share of Class A common stock
issued and outstanding immediately prior to the Merger 1 Effective Time (other than any shares of Class A common stock held by the Company
as treasury stock and any shares of Class A common stock subject to redemption) shall automatically be cancelled in exchange for the right
to receive, upon delivery of the applicable letter of transmittal (if any), one Class A ordinary share, par value of $0.00005 per
share, of Xiaoyu Dida (the “Xiaoyu Dida Class A Ordinary Shares”) (the “Merger Consideration”).

At the Merger 1 Effective
Time