Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 26

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 26
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 Initial
Business Combination

Pursuant to the terms of our Certificate of Incorporation, we were
initially granted 12 months to complete an initial business combination with a target company, with the option, but not the obligation,
to extend the period of time to consummate a business combination up to two times by an additional three-month period each time (for a
total of up to 18 months to complete a business combination). On March 19, 2024, we issued a non-convertible unsecured promissory note
(the “Extension Note”) in the principal amount of $542,100 to our Sponsor. Our Sponsor deposited the funds into the trust
account in connection with the first extension. The Extension Note was issued in connection with the decision by our board of directors
to exercise the first extension option in accordance with our second amended and restated certificate of incorporation (the “Certificate
of Incorporation”) and to extend the date by which we must consummate a business combination transaction from March 22, 2024 to
June 22, 2024 (i.e., for a period of time ending 15 months after the consummation of the initial public offering). The Extension Note
bears no interest and is repayable in full upon the consummation of an initial business combination. If we do not consummate a business
combination, the Extension Note will not be repaid and all amounts owed under the Extension Note will be forgiven except to the extent
that we have funds available to us outside of the trust account.

On June 18, 2024, the Company
held a special meeting of stockholders, at which the Company’s stockholders approved (i) an amendment to the Company’s second
amended and restated certificate of incorporation (the “Extension Amendment”) and (ii) an amendment (the “Trust Amendment”)
to the Investment Management Trust Agreement, dated March 16, 2023, by and between the Company and Continental Stock Transfer & Trust
Company effective as of June 18, 2024 to allow the Company to extend the business combination period for up to an additional
twelve (12) times for one (1) month each time from June 22, 2024 to June 22, 2025 (the “Extension”) by depositing into the
trust account, for each one-month extension, $75,000 (the “Extension Payment”). In connection with the stockholders’
vote at the special