Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 9

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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costs amounted to $4,019,087 consisting of $2,710,500 of underwriting commissions, $813,150 of which was paid out within three days of
the IPO date, 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 was available for the 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.

5

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