Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 1130

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 5
Chunk 1130
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 features certain redemption rights that are considered to be outside of the Company’s
control and subject to the occurrence of uncertain future events. Accordingly, Class A common stock subject to possible redemption are
classified as temporary equity and are accreted from the initial carrying amount to the redemption value over the period from the date
of issuance to the earliest redemption date of the instrument on a straight-line basis. Subsequent to the IPO date, the accretion also
includes the dividend and interest income earned in the Trust Account in excess of income and franchise taxes as well as required deposits
to extend the life of the Company, which currently occur on a monthly basis. 

The redemption
values as of December 31, 2024 and 2023 include $100,000 that can be used to pay any dissolution expenses, should a dissolution event
occur. The redemption value of the Class A common stock subject to possible redemption will be reduced by the estimated dissolution expenses
to be paid from the interest earned in the Trust Account, up to $100,000, if and when a dissolution is deemed probable. 

The reconciliation
of Class A common stock subject to possible redemption as of December 31, 2024 is as follows: 

    Gross proceeds from sale of Public Units  
    $54,210,000 
  
    Less: Proceeds allocated to Public Warrants  
     (1,218,153)
  
    Less: Proceeds allocated to underwriters’ over-allotment option  
     (134,584)
  
    Less: Issuance costs allocated to Class A common stock subject to possible redemption    
     (3,928,774)
  
    Less: Redemption of Class A common stock 
     (30,194,356)
  
    Accretion to redemption value  
     11,289,712 
  
    Class A common stock subject to possible redemption  
    $30,023,845 

The reconciliation
of Class A common stock subject to possible redemption as of December 31, 2023 is as follows:

    Gross proceeds from sale of Public Units  
    $54,210,000 
  
    Less: Proceeds allocated to Public Warrants  
     (1,218,153)
  
    Less: Proceeds allocated to underwriters’ over-allotment option  
     (134,584)
  
    Less: Issuance costs allocated to Class A common stock subject to possible Redemption