JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Four Leaf Acquisition Corp (NASDAQ:FORL), currently trading at $11.54 with a market capitalization of $47.55 million, reported that shareholders approved all proposals at its special meeting held on June 27, 2025, according to a press release statement and SEC filing.
Shareholders voted in favor of amending the company’s certificate of incorporation to allow the board of directors to extend the deadline to complete an initial business combination by up to 12 additional months, in one-month increments, from June 22, 2025, to June 22, 2026. The proposal passed with 2,920,598 votes for, 308,022 against, and no abstentions.
A related proposal to amend the company’s investment management trust agreement with Continental Stock Transfer & Trust Company also passed by the same margin. This amendment allows the company to extend the business combination period up to 12 times, for one month each, by depositing $75,000 into the trust account for each extension.
A third proposal, which would permit adjournment of the special meeting to a later date if necessary to solicit additional votes, was also approved with identical vote totals.
As of the May 13, 2025 record date, Four Leaf Acquisition had 4,078,153 shares of common stock outstanding, consisting of 2,722,903 shares of Class A common stock and 1,355,250 shares of Class B common stock. At the meeting, 3,228,620 shares, or approximately 79.17% of the outstanding shares, were present in person or by proxy, constituting a quorum. According to InvestingPro analysis, the stock has shown relatively low price volatility and currently trades at a P/E ratio of 248x.
Stockholders representing 1,708,386 Class A public shares, or about 62.7% of the public shares outstanding, exercised their right to redeem their shares for a pro rata portion of the funds held in the company’s trust account.
Four Leaf Acquisition’s units, Class A common stock, and warrants trade on the Nasdaq Stock Market under the symbols FORLU, FORL, and FORLW, respectively.
The company is classified as an emerging growth company. All information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.
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