Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 1023

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 4
Chunk 1023
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 the Class B common stock convert into Class A common stock at a rate of less than one-to-one. 

F-22

Warrants
- As of December 31, 2024 and 2023, 5,421,000 Public Warrants and 3,576,900 Private Placement Warrants (collectively, the “Warrants”)
were outstanding. The Warrants were issued in the same form at the IPO date. Each Public Warrant and Private Placement Warrant entitles
the holder to purchase one share of Class A common stock at a price of $11.50 per share. 

In addition,
if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection
with the closing of the initial business combination at a newly issued price of less than $9.20 per share of Class A common stock (with
such issue price or effective issue price to be determined in good faith by the Board of Directors and, in the case of any such issuance
to the Sponsor or its affiliates, without taking into account any founder shares held by the Sponsor or such affiliates, as applicable,
prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and
interest thereon, available for the funding of the initial business combination on the date of the consummation of the initial business
combination (net of redemptions), and (z) the Market Value is below $9.20 per share, then the exercise price of the Warrants will be adjusted
(to the nearest cent) to be equal to 115% of the greater of the Market Value and the newly issued price, and the $18.00 per share redemption
trigger price described below will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the newly
issued price. 

The Warrants
will become exercisable 30 days after the completion of a business combination. However, no Warrant shall be exercisable for cash and
the Company shall not be obligated to issue shares of common stock upon exercise of a Warrant unless the common stock issuable upon such
Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered
holder of the Warrants. In the event that the condition in the immediately preceding sentence is not satisfied with respect to a Warrant,
the