Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 773

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 2
Chunk 773
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 Although the guidance in the Notice does not constitute proposed or final Treasury
regulations, taxpayers may generally rely upon the guidance provided in the Notice until the issuance of the forthcoming proposed regulations.
Certain of the forthcoming proposed regulations (if issued) could, however, apply retroactively. The Notice generally provides that if
a covered corporation completely liquidates and dissolves, distributions in such complete liquidation and other distributions by such
covered corporation in the same taxable year in which the final distribution in complete liquidation and dissolution is made are not subject
to the excise tax. 

Because
any redemptions of our stock in connection with a business combination, extension vote or otherwise will occur after December 31, 2022,
the redemptions that take place after that date, including the redemption on June 18, 2024 in connection with the 2024 Special Meeting,
may be subject to the excise tax. Whether and to what extent we would be subject to the excise tax in connection with any such redemptions
would depend on a number of factors, including (i) the fair market value of the such redemptions, together with any other redemptions
or repurchases we consummate in the same taxable year, (ii) the structure of any business combination and the taxable year in which it
occurs (including redemptions in connection with the Special Meeting), (iii) the nature and amount of any equity issuances, in connection
with a business combination or otherwise, issued within the same taxable year, (iv) whether we completely liquidate and dissolve within
the taxable year of such redemptions, and (v) legal uncertainties regarding how the excise tax applies to transactions like the Business
Combination (and, if applicable, a complete liquidation and dissolution of the Company) and the content of final and proposed regulations
and further guidance from the Treasury. The foregoing could cause a reduction in the cash available on hand to complete a Business Combination
and in our ability to complete a Business Combination. The proceeds placed in the trust account and the interest earned thereon will not
be used to pay for the excise tax that may be levied on the Company in connection with such redemptions. The Company further confirms
that it will not utilize any funds from the trust account to pay any such excise tax.

On June
18, 2024, the Company’s stockholders redeemed 2,752,307 Class A common stock shares for a total of $