Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 738

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 2
Chunk 738
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287,500
Founder Shares, for no consideration, resulting in the Sponsor and directors continuing to hold 1,868,750 Founder Shares. On August 26,
2022, the Sponsor transferred 25,000 Founder Shares to each of Rahul Mewawalla and Stephen Markscheid, each of which are members of the
Company’s Board of Directors. The awards will vest simultaneously with the closing of an initial business combination, provided
the director has continuously served on the Company’s Board of Directors through the closing of such initial business combination.

Concurrent with the consummation of the Initial Public Offering, on
March 16, 2023, the Sponsor forfeited an aggregate of 373,750 Founder Shares for no consideration, resulting in the Sponsor and directors
holding an aggregate of 1,495,000 Founder Shares, of which up to 195,000 was subject to forfeiture to the extent the over-allotment option
was not exercised in full by the underwriter prior to its expiration date on April 30, 2023.

On March 17, 2023, upon the partial exercise their over-allotment option
by the underwriters, the forfeiture lapsed for 55,250 Founder Shares. Following the expiration of the underwriters’ remaining over-allotment
option on April 30, 2023, the remaining 139,750 Founder Shares were forfeited, resulting in our Sponsor and directors holding an aggregate
of 1,355,250 Founder Shares.

Simultaneously with the closing of the Initial Public Offering, on
March 16, 2023, our Sponsor purchased an aggregate of 3,449,500 Private Placement Warrant at a price of $1.00 per warrant, for an aggregate
purchase price of $3,449,500. On March 17, 2023, the underwriters partially exercised their over-allotment option resulting in the Company
issuing 127,400 Private Placement Warrants, generating an additional $127,500 in gross proceeds.

These issuances were made pursuant to the exemption from registration
contained in Section 4(a)(2) of the Securities Act. No underwriting discounts or commissions were paid with respect to such sales.

On March 22, 2023, we entered into an administrative support
agreement under which we agreed to pay our Sponsor a total of $10,000 per month for secretarial and administrative services. The
administrative support agreement began on the we first listed