Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 601

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 5
Chunk 601
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 “Class A Ordinary Shares” and with respect to the Class A Ordinary Shares included in the Units,
the “Public Shares”) and one-half of one redeemable warrant of the Company (the “Public Warrants” and together
with the Private Placement Warrants, the “Warrants”). Of those 6,000,000 Private Placement Warrants, the Sponsor purchased
4,000,000 Private Placement Warrants and Cantor purchased 2,000,000 Private Placement Warrants. Each whole warrant entitles the holder
to purchase one Class A Ordinary Share at a price of $11.50 per share. The Company’s management (“Management”)
has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the Private Placement,
although substantially all of the net proceeds are intended to be generally applied toward consummating a Business Combination (less deferred
underwriting commissions and taxes payable, if any).

Transaction
costs amounted to $14,462,875 consisting of $4,000,000 of cash underwriting fee, $9,800,000 of deferred underwriting fee, and $662,875
of other offering costs.

The
Company’s Business Combination must be with one or more target businesses that together have a fair market value equal to at least
80% of the net balance in the Trust Account (as defined below) (excluding the amount of deferred underwriting discounts held and taxes
payable, if any, on the income earned on the Trust Account) at the time of the signing an agreement to enter into a Business Combination.
However, the Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more
of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to
be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment
Company Act”). There is no assurance that the Company will be able to successfully effect a Business Combination.

F-7

LIONHEART
HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

Upon
the closing of the Initial Public Offering, Management placed an aggregate of $10.00 per Unit sold in the Initial Public Offering in
a trust account (the “Trust Account”) that may only be invested in the U.S. government securities with a maturity of 185