Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 192

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 192
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028
was held outside of the Trust Account (as defined below) and was available for the payment of the Note (as defined below) when necessary
(see Note 5), payment of accrued offering costs and for working capital purposes. 

In conjunction
with the IPO, 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”) is included in the offering costs. The estimated fair value of the
Representative Shares as of the IPO date totaled $270,520. 

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 placed in a trust account (the “Trust Account”) to be invested in U.S.
government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the
“Investment Company Act”), with a maturity of 185 days or less, or in any open-ended investment company that holds
itself out as a money market fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company.
Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its tax
obligations, the proceeds from the IPO will not be released from the Trust Account until the earlier of: (a) the completion
of the Company’s initial business combination or (b) the redemption of the Company’s public shares if the Company is
unable to complete its initial business combination in the prescribed time frame, as defined below.

F-7

The Company’s
management has broad discretion with respect to the specific application of the net proceeds of the IPO and the Private Placement Warrants,
although substantially all of the net proceeds are intended to be applied generally toward consummating a business combination. There
is no assurance that the Company will be able to complete a business combination successfully. The Company must complete one or more initial
business combinations having an aggregate fair market value of at least 80% of the assets held in the Trust Account (excluding the taxes
payable on interest earned and less any interest earned thereon that