Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 247

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1A
Chunk 247
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 will be forgiven except to the extent
that we have funds available to us outside of the trust account.

On June 18, 2024, the Company
held a special meeting of stockholders, at which the Company’s stockholders approved (i) an amendment to the Company’s second
amended and restated certificate of incorporation (the “Extension Amendment”) and (ii) an amendment (the “Trust Amendment”)
to the Investment Management Trust Agreement, dated March 16, 2023, by and between the Company and Continental Stock Transfer & Trust
Company effective as of June 18, 2024 to allow the Company to extend the business combination period for up to an additional
twelve (12) times for one (1) month each time from June 22, 2024 to June 22, 2025 (the “Extension”) by depositing into the
trust account, for each one-month extension, $75,000 (the “Extension Payment”). In connection with the stockholders’
vote at the special meeting, an aggregate of 2,752,307 shares of the Company’s Class A common stock were tendered for redemption.
For each Extension Payment, our Sponsor will deposit the applicable Extension Payment amount into the Trust Account and we will issue
an unsecured promissory note (each an “Extension Note”) in the principal amount of the Extension Payment to our Sponsor. Each
Extension Note will bear no interest and will be repayable in full upon the consummation of an initial business combination. If we do
not consummate an initial business combination, then any Extension Notes will not be repaid and all amounts owed under the Extension Notes
will be forgiven except to the extent that we have funds available to us outside of the Trust Account.

As of the date of this Annual
Report, eleven Extension Payments have been made and an aggregate of $825,000 have been deposited into the Trust Account. We now have until
May  22, 2025 to compete our initial business combination.

The requirement that we complete our initial business combination
within the prescribed time frame may give potential target businesses leverage over us in negotiating an initial business combination
and may decrease our ability to conduct due diligence on potential business combination targets as we approach our dissolution deadline,
which could undermine our ability to complete our initial business combination on terms that would produce value for our stockholders.

Any potential target business with which we enter into negotiations
concerning an initial business combination will be aware