Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 97

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 97
---
 three months
ended March 31, 2025 and for the period from February 21, 2024 (inception) through March 31, 2024.

Underwriting Agreement

The underwriters of the Initial
Public Offering had a 45-day option from the date of the Initial Public Offering to purchase up to an additional 3,000,000 Option
Units to cover over-allotments, if any. On June 20, 2024, simultaneously with the closing of the Initial Public Offering, the Over-Allotment
Option was fully exercised to purchase the additional 3,000,000 Option Units at a price of $10.00 per Option Unit.

The underwriters of the Initial
Public Offering were entitled to a cash underwriting discount of $4,000,000 (2.0% of the gross proceeds of the Units offered in the
Initial Public Offering, excluding any proceeds from Units sold pursuant to the full exercises of the Over-Allotment Option), paid at
the closing of the Initial Public Offering. Additionally, the underwriters are entitled to the Deferred Discount of 4.0% of the gross
proceeds of the Initial Public Offering held in the Trust Account, other than those sold pursuant to the Over-Allotment Option and 6.0%
of the gross proceeds sold pursuant to the full exercise of the Over-Allotment Option, amounting to $9,800,000 in the aggregate upon
the completion of the initial Business Combination subject to the terms of the Underwriting Agreement,. This Deferred Discount will become
payable to the underwriters of the Initial Public Offering solely in the event that we complete a Business Combination, subject to the
terms of the Underwriting Agreement. If we fail to consummate an initial Business Combination within the Combination Period, such Deferred
Discount will be included with the funds held in the Trust Account that will be available to fund the redemption of our Public Shares
upon the liquidation of the Trust Account.

21

Legal Engagement Letter

Lionheart Capital, an affiliate
of our Sponsor, has engaged Wasserstrom to represent Lionheart Capital and its affiliated companies, as corporate general counsel and
otherwise in connection with any corporate and/or transactional matters. The engagement letter between Lionheart Capital and Wasserstrom
is for an indefinite period only subject to termination rights of either party, of which no termination has occurred since the agreement
was executed. Jessica Wasserstrom, the principal of