Company: FORL
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001213900-25-080962
Chunk: 113

Company: Four Leaf Acquisition Corp
Filing Date: 2025-08-27
Form: 10-Q
Item: Part I, Item 2
Chunk 113
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 surrendered 287,500 Founder Shares, for no consideration, resulting
in the Sponsor and directors continuing to hold 1,868,750 Founder Shares. On August 26, 2022, the Sponsor transferred 25,000 Founder
Shares to each of Rahul Mewawalla and Stephen Markscheid, each of which are members of the Company’s Board of Directors. The awards
will vest simultaneously with the closing of an initial business combination, provided the director has continuously served on the Company’s
Board of Directors through the closing of such initial business combination.

On
March 16, 2023, the Sponsor forfeited an aggregate of 373,750 Founder Shares for no consideration, resulting in the Sponsor and
directors holding an aggregate of 1,495,000 Founder Shares, of which up to 195,000 was subject to forfeiture to the extent the over-allotment
option was not exercised in full by the underwriter prior to its expiration date on April 30, 2023.

On
March 17, 2023, upon the partial exercise of their over-allotment option by the underwriters, the forfeiture lapsed for 55,250 Founder
Shares. Following the expiration of the underwriters’ remaining over-allotment option on April 30, 2023, the remaining 139,750
Founder Shares were forfeited, resulting in our Sponsor and directors holding an aggregate of 1,355,250 Founder Shares.

37

Private
Placement

On
March 16, 2023, in the private placement that occurred simultaneously with the IPO, the Sponsor purchased an aggregate of 3,449,500
Private Placement Warrants 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.

Each
Private Placement Warrant entitles the holder to purchase one share of Class A common stock, subject to adjustment. The proceeds from
the Private Placement of the Private Placement Warrants funded the trust account, IPO issuance costs and the operations prior to the
business combination. If the Company does not complete an initial business combination within the Combination Period, the remaining proceeds,
after payments from the sale of the Private Placement Warrants, will be included in the liquidating distribution to the