Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 1047

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 5
Chunk 1047
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 “Sponsor”), a Delaware limited liability company.

The registration statement
for the Company’s initial public offering (“IPO”) was declared effective on March 16, 2023. On March 16, 2023, the Company
consummated its IPO of 5,200,000 units (“Units”). On March 17, 2023, the underwriters partially exercised their over-allotment
option and purchased 221,000 additional Units. Each Unit consists of one share of Class A common stock, $0.0001 par value per share (“Class
A common stock” or “Public Shares”), and one redeemable warrant exercisable into one share of Class A common stock at
an exercise price of $11.50 per share (“Public Warrant”). The Units were sold at an offering price of $10.00 per Unit, generating
total gross proceeds of $54,210,000.

Simultaneously with the consummation
of the IPO and the sale of the Units, the Company consummated the private placement (“Private Placement”) of 3,576,900 warrants
(“Private Placement Warrants”) to the Sponsor at a price of approximately $1.00 per Placement Warrant, generating total proceeds
of $3,577,000.

Transaction costs amounted
to $4,019,087 consisting of $2,710,500 of underwriting commissions, the Representative Shares (as defined below), and $1,038,067 of other
offering costs. At the IPO date, cash of $974,028 was held outside of the Trust Account (as defined below) and is available for the payment
of the Note (as defined herein) when necessary, payment of accrued offering costs and for working capital purposes.

In conjunction with this Public
Offering, the Company issued to the underwriter 54,210 shares of Class A common stock for nominal consideration (the “Representative
Shares”). The fair value of the Representative Shares accounted for as compensation under Accounting Standards Codification (“ASC”)
718, “Compensation—Stock Compensation” (“ASC 718”) was included in the offering costs. The estimated fair
value of the Representative Shares as of the IPO date totaled $270,520.

68

Following the closing of the
IPO, an amount of $55,836,300 ($10.30 per Unit) from the net proceeds of the sale of the Units in the IPO and the sale of the Private
Placement Warrants was