Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 757

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 2
Chunk 757
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 Placement Warrant” and collectively, the “Private Placement Warrants”)
which were purchased by the Sponsor, at a price of $1.00 per Private Placement Warrant, generating total proceeds of $3,577,000, which
is described in Note 4. 

Transaction
costs amounted to $4,019,087 consisting of $2,710,500 of underwriting commissions, $813,150 of which was paid out within three days of
the IPO date, the Representative Shares (as defined below), and $1,038,067 of other offering costs. At the IPO date, cash of $974,028
was held outside of the Trust Account (as defined below) and was available for the payment of the Note (as defined below) when necessary
(see Note 5), payment of accrued offering costs and for working capital purposes. 

In conjunction
with the IPO, the Company issued to the underwriter 54,210 shares of Class A common stock for nominal consideration (the “Representative
Shares”). The fair value of the Representative Shares accounted for as compensation under Accounting Standards Codification (“ASC”)
718, Compensation - Stock Compensation (“ASC 718”) is included in the offering costs. The estimated fair value of the
Representative Shares as of the IPO date totaled $270,520. 

Following
the closing of the IPO, an amount of $55,836,300 ($10.30 per Unit) from the net proceeds of the sale of the Units in the IPO and the
sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”) to be invested in U.S.
government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the
“Investment Company Act”), with a maturity of 185 days or less, or in any open-ended investment company that holds
itself out as a money market fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company.
Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its tax
obligations, the proceeds from the IPO will not be released from the Trust Account until the earlier of: (a) the completion
of the Company’s initial business combination or (b) the redemption of the Company’s public shares if the Company is
unable to complete its initial business combination