Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 68

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 the Company’s shareholders. Approval of certain actions requires a special resolution under Cayman Islands law, which
(except as specified below) requires the affirmative vote of at least two-thirds of the votes cast by such shareholders as, being entitled
to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting (a “Special Resolution”),
and pursuant to the Amended and Restated Articles, such actions include amending the Amended and Restated Articles and approving a statutory
merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following
our initial Business Combination, the holders of more than 50% of the Ordinary Shares voted for the appointment of directors can elect
all of the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B Ordinary Shares
(i) have the right to vote on the appointment and removal of directors and (ii) are entitled to vote on continuing the Company
in a jurisdiction outside the Cayman Islands (including any Special Resolution required to amend the constitutional documents or to adopt
new constitutional documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside the
Cayman Islands). Holders of Class A Ordinary Shares are not entitled to vote on these matters during such time. These provisions
of the Amended and Restated Articles may only be amended if approved by a Special Resolution passed by the affirmative vote of at least
90% (or, where such amendment is proposed in respect of the consummation of the initial Business Combination, two-thirds) of the votes
cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general
meeting of the Company.

15

Warrants

At both March 31, 2025 and
December 31, 204, the Company had 11,500,000 Public Warrants and 6,000,000 Private Placement Warrants outstanding. Each whole Warrant
entitles the holder to purchase one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment as discussed herein.
The Warrants cannot be exercised until 30 days after the completion of the initial Business Combination, and will expire at 5:00 p.m.,
New York City time, five years after the completion of the initial Business Combination or