Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 310

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1C
Chunk 310
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 will seek shareholder approval of a proposed initial Business Combination or conduct a tender
offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares at
a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days
prior to the consummation of the initial Business Combination, including interest earned on the funds held in the Trust Account (less
taxes payable, if any), divided by the number of then outstanding Public Shares, subject to certain limitations. The amount in the Trust
Account was approximately $10.28 per Public Share as of December 31, 2024 (before taxes payable, if any).

The
Ordinary Shares (as defined below) subject to redemption were recorded at a redemption value and classified as temporary equity upon
the completion of the Initial Public Offering, in accordance with Financial Accounting Standards Board (“FASB”) Accounting
Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” In such case, if the
Company seeks shareholder approval, a majority of the issued and outstanding Ordinary Shares voted will be voted in favor of the Business
Combination.

The
Company only has the duration of the Combination Period to complete the initial Business Combination. If the Company is unable to complete
the Business Combination within the Combination Period, the Company will, as promptly as reasonably possible, but not more than
ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less taxes payable, if any, and
less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption
will constitute full and complete payment for the Public Shares and completely extinguish Public Shareholders’ rights as shareholders
(including the right to receive further liquidation or other distributions, if any), subject to the Company’s obligations under
Cayman Islands law to provide for claims of creditors and subject to the other requirements of applicable law.

The
Sponsor, officers and directors have entered into the Letter Agreement, dated June 17, 2024, with the Company (the “Letter Agreement”),
pursuant to which they have agreed to (i) waive their redemption rights with respect to the Class