Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 577

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1C
Chunk 577
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 share (“Public Warrant”). The Units were sold at an offering price of $10.00 per Unit, generating
total gross proceeds of $54,210,000.

Simultaneously with the consummation
of the IPO and the sale of the Units, the Company consummated the private placement (“Private Placement”) of 3,576,900 warrants
(“Private Placement Warrants”) to the Sponsor at a price of approximately $1.00 per Placement Warrant, generating total proceeds
of $3,577,000.

Transaction costs amounted
to $4,019,087 consisting of $2,710,500 of underwriting commissions, 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 is available for the payment
of the Note (as defined herein) when necessary, payment of accrued offering costs and for working capital purposes.

In conjunction with this Public
Offering, 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”) was included in the offering costs. The estimated fair
value of the Representative Shares as of the IPO date totaled $270,520.

68

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