Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 446

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 3
Chunk 446
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 officers have also entered into the Letter Agreement, with us, pursuant to which, they have waived their rights
to liquidating distributions from the Trust Account with respect to any Founder Shares held by them if we fail to complete our initial
Business Combination within the Combination Period. However, if our Sponsor, directors and officers acquire Public Shares in or after
the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares
if we fail to complete our initial Business Combination within the Combination Period.

Additionally,
pursuant to the Letter Agreement, they will not propose any amendment to our Amended and Restated Memorandum (i) to modify the substance
or timing of our obligation to allow redemption in connection with our initial Business Combination or to redeem 100% of our Public Shares
if we do not complete our initial Business Combination within the Combination Period or (ii) with respect to any other material provisions
relating to shareholders’ rights or pre-initial Business Combination activity, in each case, unless we provide our Public Shareholders
with the opportunity to redeem their Public Shares upon approval of any such amendment at a per-share price, payable in cash, equal to
the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously
released to us to pay our taxes, if any, divided by the number of then outstanding Public Shares.

Director
Independence

The
Nasdaq Rules require that a majority of our Board of Directors be independent within one year of our Initial Public Offering. An “independent
director” is defined generally as a person who, in the opinion of the company’s board of directors, has no material relationship
with the listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the
company). We have four “independent directors” as defined in the Nasdaq Rules and applicable SEC rules. Our Board of Directors
has determined that Messrs. Hawkins, Meltzer and Sheriff and Ms. Cohen are “independent directors” as defined in the Nasdaq
Rules and applicable SEC rules. Our independent directors have regularly scheduled meetings at which only independent directors are present.

Item
14. Principal Accountant Fees and Services.

The
following is a summary of fees paid or to be paid to Withum for services rendered.

Audit
Fees

Audit
fees consist of fees for professional services rendered for the audit of our year-end financial statements