Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 70

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 70
---
 the initial Business Combination, warrant holders may, until such time as there is an effective registration statement
and during any period when the Company will have failed to maintain an effective registration statement, exercise Warrants on a “cashless
basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the
Class A Ordinary Shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they
satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at
its option, require holders of Public Warrants who exercise their Public Warrants to do so on a “cashless basis” in accordance
with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file
or maintain in effect a registration statement, and in the event the Company does not so elect, the Company will use its commercially
reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

If the holders exercise their
Public Warrants on a cashless basis, they would pay the warrant exercise price by surrendering the Public Warrants for that number of
Class A Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Class A Ordinary Shares
underlying the Public Warrants, multiplied by the excess of the Fair Market Value (as defined below) of the Class A Ordinary Shares
over the exercise price of the Public Warrants by (y) the average reported closing price of the Class A Ordinary Shares for
the 10 trading days ending on the third trading day prior to the date on which the notice of exercise is received
by the warrant agent or on which the notice of redemption is sent to the holders of Public Warrants, as applicable (the “Fair Market
Value”).

Redemption of Warrants When the Price per Class A
Ordinary Share Equals or Exceeds $18.00

The Company may redeem the
outstanding Warrants:

    ● in whole and not in part;           ● at a price of $0.01 per Warrant; 

    ● upon a minimum of 30 days’ prior written notice of redemption; and