Company: CUB
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074966
Chunk: 54

Company: Lionheart Holdings
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 Unit, which is discussed
in Note 3 (the “Initial Public Offering”), and the sale of an aggregate of 6,000,000 warrants of the Company (the “Private
Placement Warrants”) to the Sponsor and Cantor Fitzgerald & Co., the representative of the underwriters of the Initial
Public Offering (“Cantor”), at a price of $1.00 per Private Placement Warrant, or $6,000,000 in the aggregate, in a private
placement that closed simultaneously with the Initial Public Offering (the “Private Placement”). Each Unit consists of one
Class A ordinary share, par value $0.0001 per share, of the Company (the “Class A Ordinary Shares” and with respect
to the Class A Ordinary Shares included in the Units, the “Public Shares”) and one-half of one redeemable warrant of the
Company (the “Public Warrants” and together with the Private Placement Warrants, the “Warrants”). Of those 6,000,000
Private Placement Warrants, the Sponsor purchased 4,000,000 Private Placement Warrants and Cantor purchased 2,000,000 Private Placement
Warrants. Each whole warrant entitles the holder to purchase one Class A Ordinary Share at a price of $11.50 per share. The Company’s
management (“Management”) has broad discretion with respect to the specific application of the net proceeds of the Initial
Public Offering and the Private Placement, although substantially all of the net proceeds are intended to be generally applied toward
consummating a Business Combination (less the Deferred Discount (as defined in Note 6) and taxes payable, if any).

Transaction costs amounted
to $14,462,875 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