Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 78

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 78
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Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand deposit account at a bank

We intend to use substantially
all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes
payable, if any), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or In part, as
consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to
finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.    

As of March 31, 2025, we had
cash of $697,678. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform
business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target
businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and
structure, negotiate and complete a Business Combination.

In order to fund working capital
deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and directors
or their affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business Combination, we would repay
such Working Capital Loans. In the event that a Business Combination does not close, we may use a portion of the working capital held
outside the Trust Account to repay such Working Capital Loans, but no proceeds from our Trust Account would be used for such repayment.
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