Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 61

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 61
---
 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.

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”), with Continental Stock Transfer & Trust Company (“Continental”), acting as trustee. The funds are initially
invested in U.S. government securities with a maturity of 185 days or less or in money market funds meeting certain conditions under
Rule 2a-7 under the Investment Company Act, which invest only in direct U.S government securities, the holding of these assets in
this form is intended to be temporary and for the sole purpose of facilitating the intended Business Combination. To mitigate the risk
that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer
that the Company holds investments in the Trust Account, the Company may, at any time (based on Management’s ongoing assessment
of all factors related to the potential status under the Investment Company Act), instruct the trustee to liquidate the investments held
in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest bearing demand deposit account at a
bank.

5

Except with respect to interest
earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Initial
Public Offering and the Private Placement will not be released from the Trust Account until the earliest of (i) the completion of
the initial Business Combination, (ii) the redemption of the Public Shares if the Company is unable to complete the initial Business
Combination by June 20, 2026, or by such earlier liquidation date as the Company’s board of directors may approve unless further
extended by shareholder approval (the “Combination Period”), subject to applicable law, or (iii) the redemption of the
Public Shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum and