Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 35

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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Up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post Business Combination entity at a price of
$1.00 per warrant at the option of the lender.

We do not believe we will
need to raise additional funds in order to meet the expenditures required for operating our business. However, if our estimate of the
costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual
amount necessary to do so, we may have insufficient funds available to operate our business prior to our Business Combination. Moreover,
we may need to obtain additional financing either to complete our Business Combination or because we become obligated to redeem a significant
number of our Public Shares upon consummation of our Business Combination, in which case we may issue additional securities or incur debt
in connection with such Business Combination.

Contractual Obligations

We do not have any long-term
debt, capital lease obligations, operating lease obligations or long-term liabilities, other than as set forth below.

Administrative Services Agreement

Commencing on June 18, 2024,
and until completion of our initial Business Combination or liquidation, we reimburse an affiliate of our Sponsor $15,000 per month for
certain office space, utilities and secretarial and administrative services as may be reasonably required by our Company pursuant to the
Administrative Services Agreement. Under the Administrative Services Agreement, there was $45,000 and $0 incurred for the three months
ended March 31, 2025 and for the period from February 21, 2024 (inception) through March 31, 2024.

Underwriting Agreement

The underwriters of the Initial
Public Offering had a 45-day option from the date of the Initial Public Offering to purchase up to an additional 3,000,000 Option
Units to cover over-allotments, if any. On June 20, 2024, simultaneously with the closing of the Initial Public Offering, the Over-Allotment
Option was fully exercised to purchase the additional 3,000,000 Option Units at a price of $10.00 per Option Unit.

The underwriters of the Initial
Public Offering were entitled to a cash underwriting discount of $4,000,000 (2.0% of the gross proceeds of the Units offered in the
Initial Public Offering, excluding any proceeds from Units sold pursuant to the full exercises of the Over-Allot