Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 6

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
462,875 consisting of $4,000,000 of cash underwriting fee, $9,800,000 of deferred underwriting fee, and $662,875 of other offering
costs.

The Business Combination must
be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account
(as defined below) (excluding the amount of the Deferred Discount and taxes payable, if any, on the income earned
on the Trust Account) at the time of the signing an agreement to enter into a Business Combination. However, the Company will only complete
a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the
target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company
under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that
the Company will be able to successfully effect a Business Combination.

5

Upon the closing of the Initial
Public Offering, Management placed an aggregate of $10.00 per Unit sold in the Initial Public Offering in a trust account (the “Trust
Account”) that may only be invested in the U.S. government securities with a maturity of 185 days or less or in money market
funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S government securities,
the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended Business Combination.
To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk
increases the longer that the Company holds investments in the Trust Account, the Company may, at any time (based on Management’s
ongoing assessment of all factors related to the potential status under the Investment Company Act), instruct the trustee to liquidate
the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest bearing demand
deposit account at a bank.

Except with respect to interest
earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Initial
Public Offering and the Private Placement will not be released from the Trust Account until the earliest of (i) the completion of
the initial