Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 492

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 4
Chunk 492
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As
of December 31, 2024, we had cash of $891,017. We intend to use the funds held outside the Trust Account primarily to identify and evaluate
target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar
locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of
prospective target businesses, and structure, negotiate and complete a Business Combination.

In
order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain
of our officers and directors or their affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business
Combination, we would repay such Working Capital Loans. In the event that a Business Combination does not close, we may use a portion
of the working capital held outside the Trust Account to repay such Working Capital Loans, but no proceeds from our Trust Account would
be used for such repayment. Up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post Business Combination
entity at a price of $1.00 per warrant at the option of the lender.

We
do not believe we will need to raise additional funds in order to meet the expenditures required for operating our business. However,
if our estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination
are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our Business
Combination. Moreover, we may need to obtain additional financing either to complete our Business Combination or because we become obligated
to redeem a significant number of our Public Shares upon consummation of our Business Combination, in which case we may issue additional
securities or incur debt in connection with such Business Combination.

23

Contractual
Obligations

We
do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities, other than as set forth
below.

Administrative
Services Agreement

Commencing
on June 18, 2024, and until completion of our initial Business Combination or liquidation, we reimburse an affiliate of our Sponsor $15,000
per month for certain office space, utilities and secretarial and Administrative
Services as may be reasonably required by our Company pursuant to the Administrative Services Agreement.
Under the Administrative Services Agreement, there was $95