Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 174

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 174
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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 on the Nasdaq Global Market and will continue monthly until the
completion of our initial business combination or liquidation. The Company’s expenses related to the administrative support
agreement were $120,000 and $90,000 for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, $182,180 and $62,180,
respectively, of amounts due to the Sponsor under the administrative support agreement remains unpaid. Upon completion of the initial business
combination or the Company’s liquidation, the Company will cease paying these monthly fees.

Other than