Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 81

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 81
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 combination, provided
the director has continuously served on the Company’s Board of Directors through the closing of such initial business combination.
Concurrent with the consummation of the Initial Public Offering, on March 16, 2023, our Sponsor forfeited an aggregate of 373,750 Founder
Shares for no consideration, resulting in our 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. Following the expiration of the underwriters’ remaining over-allotment option on April 30, 2023, an additional
139,750 Founder Shares were forfeited, resulting in our Sponsor and directors holding an aggregate of 1,355,250 Founder Shares. The number
of Founder Shares issued was determined based on the expectation that such Founder Shares would represent approximately 20% of the outstanding
shares following the Initial Public Offering (excluding the Private Placement Warrants and underlying Class A common stock and the Representative
Shares). The Founder Shares will be worthless if we do not complete an initial business combination.

In addition, our Sponsor, pursuant to a written agreement, purchased
3,576,900 Private Placement warrants at a price of $1.00 per Private Placement Warrant, generating gross proceeds to us of approximately
$3.58 million.

Each Private Placement Warrant is exercisable to purchase one whole
share of common stock at $11.50 per share. These securities will also be worthless if we do not complete an initial business combination.
Holders of Founder Shares have agreed: (A) to vote any shares owned by them in favor of any proposed initial business combination; and
(B) not to redeem any Founder Shares held by them in connection with a stockholder vote to approve a proposed initial business combination.
In addition, we may obtain loans from our Sponsor, affiliates of our Sponsor or an officer or director. The personal and financial interests
of our officers and directors may influence their motivation in identifying and selecting a target business combination, completing an
initial business combination and influencing the operation of the business following the initial business combination.

Risks Relating to Our Securities

You will not have any rights or interests in funds from the trust
account, except under certain limited circumstances. To liquidate your investment, therefore, you may be forced to sell your public shares
or warrants