Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 0

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 0
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Item 1. BUSINESS

Overview

We are a blank check company incorporated in Delaware on March 3, 2022,
for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination
with one or more businesses. We are an emerging growth company and, as such, are subject to all the risks associated with emerging growth
companies. Unless otherwise indicated or the context requires otherwise, the words “we,” “us,” “our,”
the “Company,” “our Company” “Four Leaf” or “FORL” refer to Four Leaf Acquisition Corporation,
a Delaware corporation.

Our sponsor is ALWA Sponsor, LLC (our “Sponsor”), a Delaware
limited liability company. In May 2022, our Sponsor paid $25,000, or approximately $0.011 per share, to cover certain offering costs in
consideration for 2,156,250 shares of Class B common stock, par value $0.0001 (the “Class B common stock” or “Founder
Shares”). On May 10, 2022, our Sponsor surrendered 287,500 Founder Shares, for no consideration, resulting in our Sponsor and directors
continuing to hold 1,868,750 Founder Shares. On August 26, 2022, our 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.

The registration statement for the initial public offering (“Initial
Public Offering”) was declared effective on March 16, 2023. On March 16, 2023, we consummated the Initial Public Offering of 5,200,000
units (the “Units”). Each Unit sold in the Initial Public Offering consists of one share of Class A common stock, $0.0001
par value per share (“Class A common stock”), and one redeemable warrant exercisable into one share of Class A common stock
at an exercise price of $11.50 per share (the “Public Warrants”). The Units were sold at an offering price of $10.00 per Unit,
generating total gross proceeds of $54,210,000, and incurring offering costs (including the partial exercise of the