Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 21

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 21
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 definitive
agreement in connection with our initial business combination. Our board of directors will make the determination as to the fair market
value of our initial business combination. If our board of directors is not able to independently determine the fair market value of our
initial business combination, we will obtain an opinion from an independent investment banking firm or another independent entity that
commonly renders valuation opinions with respect to the satisfaction of such criteria. While we consider it unlikely that our board will
not be able to make an independent determination of the fair market value of a target business or businesses, it may be unable to do so
if the board is less familiar or experienced with the target company’s business, there is a significant amount of uncertainty as
to the value of the company’s assets or prospects, including if such company is at an early stage of development, operations or
growth, or if the anticipated transaction involves a complex financial analysis or other specialized skills and the board determines that
outside expertise would be helpful or necessary in conducting such analysis. Since any opinion, if obtained, would merely state that the
fair market value of the target business meets the 80% of net assets threshold, unless such opinion includes material information regarding
the valuation of a target business or the consideration to be provided, it is not anticipated that copies of such opinion would be distributed
to our stockholders. However, if required under applicable law, any proxy statement that we deliver to stockholders and file with the
SEC in connection with a proposed transaction will include such opinion. Additionally, pursuant to Nasdaq rules, any initial business
combination must be approved by a majority of our independent directors.

We anticipate structuring our initial business combination either:
(i) in such a way so that the post-transaction company in which our public stockholders own shares will own or acquire 100% of the equity
interests or assets of the target business or businesses; or (ii) in such a way so that the post-transaction company owns or acquires
less than 100% of such interests or assets of the target business in order to meet certain objectives of the target management team or
stockholders, or for other reasons. However, we will only complete an initial business combination if the post-transaction company owns
or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target
sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940,