Company: FORL
Filing Date: 2025-06-16
Form Type: DEF 14A
Source: 0001213900-25-054453
Chunk: 45

Company: Four Leaf Acquisition Corp
Filing Date: 2025-06-16
Form: DEF 14A
Chunk 45
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 has entered into 16 an agreement with a target company for an initial business combination no later than 18 months after the effective date of the registration statement for its IPO. The company would then be required to complete its initial business combination no later than 30 months after the effective date of the registration statement for its initial public offering. As indicated above, we completed our IPO on March 22, 2023 and have operated as a blank check company searching for a target business with which to consummate an initial business combination since such time (or approximately 27 months after the effective date of our IPO, as of the date of this proxy statement). On January 24, 2024, the SEC adopted SPAC Final Rules, relating to, among others, the extent to which SPACs could become subject to regulation under the Investment Company Act. The SPAC Final Rules provide that whether a SPAC is an investment company subject to the Investment Company Act is based on particular facts and circumstances. A specific duration period of a SPAC is not the sole determinant, but one of the long -standingfactors to consider in determination of a SPAC’s status under the Investment Company Act. A SPAC could be deemed an investment company at any stage of its operation. The determination of a SPAC’s status as an investment company includes analysis of a SPAC’s activities, depending upon the facts and circumstances, including but not limited to, the nature of SPAC assets and income, the activities of a SPAC’s officers, directors and employees, the duration of a SPAC, the manner a SPAC holding itself out to investors, and the merging with an investment company. The SPAC Final Rules become effective on July 1, 2024. There is currently uncertainty concerning the applicability of the Investment Company Act to a SPAC. It is possible that a claim could be made that we have been operating as an unregistered investment company, including under the subjective test of Section 3(a)(1)(A) of the Investment Company Act, based on the current views of the SEC. If we were deemed to be an investment company for purposes of the Investment Company Act, we might be forced to abandon our efforts to complete an initial business combination and instead be required to liquidate. If we are required to liquidate, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our shares and warrants or rights following such a transaction, and our warrants or rights