Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 103

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 2
Chunk 103
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 sale of the Founder Shares,
and loans from our Sponsor. Subsequent to the consummation of the IPO, the Company’s liquidity needs have been and will continue
to be satisfied through the net proceeds held outside of the Trust Account from the consummation of the IPO and the Private Placement,
and the Working Capital Loans provided by the Sponsor (see below). In order to finance the Company’s operations as well as transaction
costs in connection with an initial business combination, our Sponsor, an affiliate of our Sponsor, or certain of our officers and directors
or their affiliates may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). The
Working Capital Loans are to be repaid upon consummation of a business combination, without interest, or, at the lender’s option,
up to $2,000,000 of the outstanding Working Capital Loans are convertible into warrants at a price of $1.00 per warrant. As of June 30,
2025, we had $3,116,100 of outstanding Working Capital Loans from our Sponsor.

As
of June 30, 2025, we had cash in the Trust Account of $11,354,936, which excludes $19,856,826 of restricted cash to be used for
pending Class A common stock redemptions, which occurred on June 27, 2025. We intend to use substantially all of the funds held in the
Trust Account, including any amounts representing interest earned on the Trust Account (less deferred underwriting commissions of $1,897,350)
to complete the initial business combination, to the extent that our capital stock or debt is used, in whole or in part, as consideration
to complete its initial business combination. We may also withdraw dividend and interest income earned in the Trust Account to pay income
and franchise taxes.

32

During
the year ended December 31, 2024, the Company withdrew $1,031,029 of interest and dividend income earned in the Trust Account for payment
of the Company’s franchise and income tax liabilities. As of June 30, 2025 and December 31, 2024, $117,610 and $99,006, respectively,
of the funds were inadvertently used for the payments of general operating expenses. The Company is expected to replenish these amounts
via a Working Capital Loan from its Sponsor or another similar type of financing.

During
August of 2025, the Company withdrew an additional $271,