Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 621

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1C
Chunk 621
---
, resulting in our Sponsor and directors holding an aggregate
of 1,355,250 Founder Shares.

Simultaneously with the closing of the Initial Public Offering, on
March 16, 2023, our Sponsor purchased an aggregate of 3,449,500 Private Placement Warrant at a price of $1.00 per warrant, for an aggregate
purchase price of $3,449,500. On March 17, 2023, the underwriters partially exercised their over-allotment option resulting in the Company
issuing 127,400 Private Placement Warrants, generating an additional $127,500 in gross proceeds.

These issuances were made pursuant to the exemption from registration
contained in Section 4(a)(2) of the Securities Act. No underwriting discounts or commissions were paid with respect to such sales.

On March 22, 2023, we entered into an administrative support
agreement under which we agreed to pay our Sponsor a total of $10,000 per month for secretarial and administrative services. The
administrative support agreement began on the we first listed on the Nasdaq Global Market and will continue monthly until the
completion of our initial business combination or liquidation. The Company’s expenses related to the administrative support
agreement were $120,000 and $90,000 for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, $182,180 and $62,180,
respectively, of amounts due to the Sponsor under the administrative support agreement remains unpaid. Upon completion of the initial business
combination or the Company’s liquidation, the Company will cease paying these monthly fees.

Other than the foregoing, no compensation of any kind, including any
finder’s fee, reimbursement, consulting fee or monies in respect of any payment of a loan, will be paid by us to our Sponsor, officers
and directors, or any affiliate of our Sponsor or officers, prior to, or in connection with any services rendered in order to effectuate,
the consummation of an initial business combination (regardless of the type of transaction that it is). However, these individuals will
be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target
businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments
that were made to our Sponsor, officers, directors or our or