Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 369

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 2
Chunk 369
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 and therefore that such Founder
Shares would represent 25% of the outstanding Ordinary Shares after our Initial Public Offering. The Over-Allotment Option was exercised
in full .

Our
Sponsor and Cantor, the representative of the underwriters of our Initial Public Offering, purchased an aggregate of 6,000,000 Private
Placement Warrants, each exercisable to purchase one Class A Ordinary Share at $11.50 per share, at a price of $1.00 per Private
Placement Warrant, or $6,000,000 in the aggregate, in the Private Placement that closed simultaneously with the closing of our Initial
Public Offering. Of those 6,000,000 Private Placement Warrants, our Sponsor purchased 4,000,000 Private Placement Warrants and Cantor
purchased 2,000,000 Private Placement Warrants.

36

Lionheart
Capital, an affiliate of our Sponsor, has engaged Wasserstrom to represent Lionheart Capital and its affiliated companies, as corporate
general counsel and otherwise in connection with any corporate and/or transactional matters. The engagement letter between Lionheart
Capital and Wasserstrom is for an indefinite period only subject to termination rights of either party, of which no termination has occurred
since the agreement was executed. Jessica Wasserstrom, the principal of Wasserstrom, currently holds the title of Chief Legal Officer
of Lionheart Capital and its affiliated companies. In connection therewith, Wasserstrom was specifically engaged by us to provide counsel
for general corporate legal matters and, as such, may be deemed to be a related party. As of December 31, 2024, we incurred an aggregate
of $175,000 of legal fees from Wasserstrom, which were recorded within accrued offering costs in the financial statement contained elsewhere
in this Report. On June 25, 2024, we paid $50,000 and the remaining $125,000 is recorded within deferred legal fees since it is due at
the time of the Business Combination.

Prior
to or in connection with the completion of our initial Business Combination, there may be payment by our Company to our Sponsor, officers
or directors, or our or their affiliates, of a finder’s fee, advisory fee, consulting fee or success fee for any services they
render in order to effectuate the completion of our initial Business Combination, which, if made prior to the completion of our initial
Business Combination, will be paid from funds held outside the Trust Account.

Since
the consumm