Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 22

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 22
---
 with
respect to Private Placement Warrants held by Cantor and/or its designees, will not be exercisable more than five years from the commencement
of sales in the Initial Public Offering in accordance with Financial Industry Regulatory Authority Rule 5110(g)(8).

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On March 15, 2024, the
Sponsor made a capital contribution of $25,000, or approximately $0.003 per share, for which the Company issued 7,666,667 Class B ordinary
shares of the Company, par value $0.0001 per share (the “Class B Ordinary Shares”, and together with the Class A Ordinary
Shares, the “Ordinary Shares”) to the Sponsor (such shares, the “Founder Shares”).

Pursuant to the Letter Agreement,
the Sponsor agreed not to transfer, assign or sell any of its Founder Shares and any Class A Ordinary Shares issued upon conversion
thereof until the earlier to occur of (i) six months after the completion of the initial Business Combination or (ii) the date
on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination
that results in all of the Company’s shareholders having the right to exchange their Class A Ordinary Shares for cash, securities
or other property. Any permitted transferees will be subject to the same restrictions and other agreements of the Sponsor with respect
to any Founder Shares (the “Lock-up”). Notwithstanding the foregoing, if (x) the closing price of the Class A Ordinary
Shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing after the initial Business Combination
or (y) if the Company consummates a transaction after the initial Business Combination that results in the Company’s shareholders
having the right to exchange their Ordinary Shares for cash, securities or other property, the Founder Shares will be released from the
Lock-up.

11

IPO Promissory Note — Related
Party

On March 8, 2024, the Sponsor
agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the Initial Public Offering pursuant to a promissory
note (the “IPO Promissory Note”).