Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 18

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 18
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 we seek shareholder approval,
we will complete our initial Business Combination only if we receive an Ordinary Resolution. A quorum for such meeting will be present
if the holders of at least one third of issued and outstanding shares entitled to vote at the meeting are represented in person or by
proxy. Our Sponsor, officers and directors will count toward this quorum and, pursuant to the Letter Agreement, our Sponsor, officers
and directors have agreed to vote their Founder Shares, Private Placement Shares and any Public Shares purchased during or after the Initial
Public Offering (including in open market and privately-negotiated transactions) in favor of our initial Business Combination. For purposes
of seeking approval of an Ordinary Resolution, non-votes will have no effect on the approval of our initial Business Combination once
a quorum is obtained.

As a result, in addition to
our Sponsor’s Founder Shares, we would need 7,666,667, or 33.3%, of the 23,000,000 Public Shares sold in the Initial Public Offering
to be voted in favor of an initial Business Combination in order to have our initial Business Combination approved, assuming all outstanding
shares are voted. Assuming that only the holders of one-third of our issued and outstanding Ordinary Shares, representing a quorum under
our Amended and Restated Charter vote their shares at a general meeting of our shareholders, we will not need any Public Shares in addition
to our Founder Shares to be voted in favor of an initial Business Combination in order to approve an initial Business Combination. However,
if our initial Business Combination is structured as a statutory merger or consolidation with another company under Cayman Islands law,
the approval of our initial Business Combination will require a Special Resolution. In addition, prior to the closing of our initial Business
Combination, only holders of our Class B Ordinary Shares (i) will have the right to appoint and remove directors prior to or in connection
with the completion of our initial Business Combination and (ii) will be entitled to vote on continuing our Company in a jurisdiction
outside the Cayman Islands (including any Special Resolution required to amend our constitutional documents or to adopt new constitutional
documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands).
These quorum and voting thresholds, and the voting agreement of our Sponsor, officers and directors, may make it more likely that we will
consummate our initial Business Combination. Each Public Shareholder may elect to redeem their Public Shares irrespective of whether