Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 27

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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The Company is authorized
to issue a total of 50,000,000 Class B Ordinary Shares at par value of $0.0001 each. As of September 30, 2025 and December 31, 2024,
there were 7,666,667 Class B Ordinary Shares issued and outstanding.

13

The Founder Shares will automatically
convert into Class A Ordinary Shares concurrently with or immediately following the consummation of the initial Business Combination
or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations,
recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A Ordinary
Shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Initial Public Offering
and related to or in connection with the closing of the initial Business Combination, the ratio at which Class B Ordinary Shares
convert into Class A Ordinary Shares will be adjusted (unless the holders of a majority of the outstanding Class B Ordinary
Shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A Ordinary
Shares issuable upon conversion of all Class B Ordinary Shares will equal, in the aggregate, 25% of the sum of (i) the total
number of all Class A Ordinary Shares outstanding upon the completion of the Initial Public Offering (including any Class A
Ordinary Shares issued pursuant to the Over-Allotment Option and excluding the Class A Ordinary Shares underlying the Private Placement
Warrants), plus (ii) all Class A Ordinary Shares and equity-linked securities issued or deemed issued, in connection with the
closing of the initial Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in
the initial Business Combination and any private placement equivalent warrants issued to the Sponsor or any of its affiliates or to the
Company’s officers or directors upon conversion of any Working Capital Loans) minus (iii) any redemptions of Public Shares
by Public Shareholders in connection with an initial Business Combination; provided that such conversion of Founder Shares will never
occur on a less than one-for-one basis.

Holders of the Ordinary Shares
are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified in the Amended and Restated
Articles