Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 639

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1C
Chunk 639
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 LLC, a Delaware limited liability company
(the “Sponsor”). 

The registration
statement for the Company’s IPO was declared effective on March 16, 2023. On March 16, 2023, the Company consummated its IPO of
5,200,000 units (“Units”). On March 17, 2023, the underwriters partially exercised their over-allotment option and purchased
221,000 additional Units. Each Unit consisted 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
(“Public Warrant”). The Units were sold at an offering price of $10.00 per Unit and generated 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 (each a “Private 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