Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 1172

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 6
Chunk 1172
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 of the outstanding
Working Capital Loans are convertible into warrants at a price of $1.00 per warrant. As of December 31, 2024, we had $2,195,100 of outstanding
Working Capital Loans from our Sponsor.

As of December 31, 2024, we had cash equivalents
in the form of marketable securities in the Trust Account of $30,124,557. 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 its 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.

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 December 31, 2024, $99,006 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. 

The Initial Stockholders have agreed not to propose
any amendment to our Certificate of Incorporation that would affect our public stockholders’ ability to convert or sell their shares
to us in connection with a business combination as described herein or affect the substance or timing of our obligation to redeem 100%
of our Public Shares if we do not complete a business combination by May 22, 2025 (or June 22, 2025 if the additional extension options
are exercised by the Company) unless we provide our public stockholders with the opportunity to redeem their shares of Class A common
stock upon the approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
the Trust Account, including interest not previously released to the Company but net of franchise and income taxes payable, divided by
the number of then outstanding Public Shares.

72

The $28,407 held outside of the Trust Account as
of December 31, 2024 will not be sufficient to allow the Company to operate for at least the next 12 months from the issuance of these
financial statements, assuming that a