Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 1470

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 16
Chunk 1470
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 statement of operations.

F-13

LIONHEART
HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

Letter
Agreement

The
Sponsor, officers and directors have entered into the Letter Agreement, pursuant to which they have agreed to (i) waive their redemption
rights with respect to their Founder Shares and Public Shares in connection with the completion of the initial Business Combination;
(ii) waive their redemption rights with respect to their Founder Shares and Public Shares in connection with a shareholder vote
to approve an amendment to the Amended and Restated Charter (x) to modify the substance or timing of the Company’s obligation
to allow redemption in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company has not
consummated an initial Business Combination within the Combination Period or (y) with respect to any other material provisions relating
to shareholders’ rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions
from the Trust Account with respect to their Founder Shares if the Company fails to complete the initial Business Combination within
the Combination Period, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public
Shares they hold if the Company fails to complete the initial Business Combination within the Combination Period and to liquidating distributions
from assets outside the Trust Account; and (iv) vote any Founder Shares held by them and any Public Shares purchased during or after
the Initial Public Offering (including in open market and privately-negotiated transactions) in favor of the initial Business Combination
(except that any Public Shares such parties may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act would
not be voted in favor of approving the Business Combination transaction).

Related
Party Loans

In
order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of
the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working
Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans. In the event
that a Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay
the Working Capital Loans, but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up