Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 28

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 28
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and our company to claims of punitive damages, by paying Public Shareholders from the Trust Account prior to addressing the claims of
creditors. We cannot assure you that claims will not be brought against us for these reasons.

14

Our
Public Shareholders will be entitled to receive funds from the Trust Account only (i) in the event of the redemption of our Public Shares
if we do not complete our initial Business Combination within the Combination Period, (ii) in connection with a shareholder vote to amend
our Amended and Restated Charter (x) to modify the substance or timing of our obligation to allow redemptions in connection with our
initial Business Combination or to redeem 100% of our Public Shares if we do not complete our initial Business Combination within the
Combination Period or (y) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business
Combination activity or (iii) if they redeem their respective Public Shares for cash upon the completion of our initial Business Combination,
subject to applicable law and any limitations (including, but not limited, to cash requirements) created by the terms of the proposed
Business Combination. In no other circumstances will a shareholder have any right or interest of any kind to or in the Trust Account.
In the event we seek shareholder approval in connection with our initial Business Combination, a shareholder’s voting in connection
with the Business Combination alone will not result in a shareholder’s redeeming its Public Shares to us for an applicable pro
rata share of the Trust Account. Such shareholder must have also exercised its redemption rights described above. These provisions of
our Amended and Restated Charter, like all provisions of our Amended and Restated Charter, may be amended with a shareholder vote.

Competition

In
identifying, evaluating and selecting a target business for our initial Business Combination, we are encountering competition from other
entities having a business objective similar to ours, including other SPACs, private equity groups and leveraged buyout funds, public
companies and operating businesses seeking strategic acquisitions. Many of these entities are well established and have extensive experience
identifying and effecting Business Combinations directly or through affiliates. Moreover, many of these competitors possess similar or
greater financial, technical, human and other resources than us. Our ability to acquire larger target businesses is limited by our available
financial resources. This inherent limitation gives others an advantage in pursuing the acquisition of a target business. Furthermore,
our obligation to pay cash in connection with our Public Shareholders who exercise