Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 279

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1A
Chunk 279
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 to elect all of our directors prior to consummation of our initial business combination and holders of our public
shares will not have the right to vote on the election of directors during such time; provided, however, that with respect to the election
of directors in connection with a meeting of the stockholders of the company in which a business combination is submitted to our stockholders
for approval, holders of the Class A common stock and holders of the Class B common stock, voting together as a single class, shall have
the exclusive right to vote for the election of directors. These provisions of our Certificate of Incorporation may only be amended if
approved by a majority of the Class B common stock then outstanding. We may not hold an annual meeting of stockholders to elect new directors
prior to the completion of our initial business combination, in which case all of the current directors will continue in office until
at least the completion of the initial business combination. Accordingly, our initial stockholders will continue to exert control at least
until the completion of our initial business combination.

35

Our Sponsor paid an aggregate of $25,000 for the Founder Shares,
or approximately $0.011 per founder share. As a result, our Sponsor, its affiliates and our management team stand to make a substantial
profit even if an initial business combination subsequently declines in value or is unprofitable for our public stockholders, and may
have an incentive to recommend such an initial business combination to our stockholders.

As a result of the low acquisition cost of our Founder Shares, our
Sponsor, its affiliates and our management team could make a substantial profit even if we select and consummate an initial business combination
with an acquisition target that subsequently declines in value or is unprofitable for our public stockholders. Thus, such parties may
have more of an economic incentive for us to enter into an initial business combination with a riskier, weaker-performing or financially
unstable business, or an entity lacking an established record of revenues or earnings, than would be the case if such parties had paid
the full offering price for their Founder Shares, or if such a fee were not potentially payable.

Unlike many other similarly structured special purpose acquisition
companies, our initial stockholders will receive additional shares of Class A common stock if we issue shares to consummate an initial
business combination.

The Founder Shares will automatically convert into Class A common stock
at the time of our initial business combination, on a one-for-one basis, subject to adjustment as provided herein.