Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 477

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 3
Chunk 477
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 any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) fair
market value means the volume weighted average price of Class A Ordinary Shares as reported during the ten (10) trading day
period ending on the trading day prior to the first date on which the Class A Ordinary Shares trade on the applicable
exchange or in the applicable market, regular way, without the right to receive such rights.

NOTE 8 — FAIR
VALUE MEASUREMENT

The
fair value of the Company’s financial assets and liabilities reflects Management’s estimate of amounts that the Company would
have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction
between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company
seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable
inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is
used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and
liabilities:

    Level 1:
    Quoted prices in active
    markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the
    asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

    Level 2:
    Observable inputs other
    than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted
    prices for identical assets or liabilities in markets that are not active.

    Level 3:
    Unobservable inputs based
    on the Company’s assessment of the assumptions that market participants would use in pricing the asset or liability.

F-17

LIONHEART
                                            HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

Level
1 assets include investments in money market funds that invest solely in U.S. government securities. At December 31, 2024, assets held
in the Trust Account were comprised of $236,335,105 in money market funds, which were invested primarily in U.S. government securities.

At
issuance, the Public Warrants were valued using a Monte Carlo model. The Public W