Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 49

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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(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 a controlling interest in the target sufficient for it not to be