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

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 21
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 with respect to more than
an aggregate of 15% of the Public Shares sold in the Initial Public Offering (the “Excess Shares”) without our prior consent.
We believe this restriction will discourage Public Shareholders from accumulating large blocks of Public Shares, and subsequent attempts
by such holders to use their ability to exercise their redemption rights against a proposed Business Combination as a means to force
us or our Management to purchase their Public Shares at a significant premium to the then-current market price or on other undesirable
terms. Absent this provision, a Public Shareholder holding more than an aggregate of 15% of the Public Shares sold in the Initial Public
Offering could threaten to exercise its redemption rights if such holder’s shares are not purchased by us, our Sponsor or our Management
at a premium to the then-current market price or on other undesirable terms. By limiting our Public Shareholders’ ability to redeem
no more than 15% of the Public Shares sold in the Initial Public Offering without our prior consent, we believe we will limit the ability
of a small group of Public Shareholders to unreasonably attempt to block our ability to complete our initial Business Combination, particularly
in connection with a Business Combination with a target that requires as a closing condition that we have a minimum net worth or a certain
amount of cash.

11

However,
we would not be restricting our Public Shareholders’ ability to vote all of their Public Shares (including Excess Shares) for or
against our initial Business Combination.

Delivering
Share Certificates in Connection with the Exercise of Redemption Rights

As described above, we intend to require our Public Shareholders seeking
to exercise their redemption rights, whether they are record holders or hold their Public Shares in “street name,” to, at
the holder’s option, either deliver their share certificates to our transfer agent or deliver their Public Shares to our transfer
agent electronically using the DWAC system, prior to the date set forth in the proxy materials or tender offer documents, as applicable.
In the case of proxy materials, this date may be up to two business days prior to the scheduled vote on the proposal to approve the initial
Business Combination. In addition, if we conduct redemptions in connection with a shareholder vote, we intend to require a Public Shareholder
seeking redemption of its Public Shares to also submit a written request for redemption to our transfer agent two business days prior
to the scheduled vote in which the name of the beneficial owner of such Public Shares is included. The proxy