Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 674

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 6
Chunk 674
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 the
Public Shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum and
articles of association (the “Amended and Restated Charter”) to (A) modify the substance or timing of the Company’s
obligation to allow redemptions in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company
has not consummated an initial Business Combination within the Combination Period or (B) with respect to any other material provisions
relating to shareholders’ rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could
become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the holders of the
Public Shares (the “Public Shareholders”).

The Company will provide the Public Shareholders with the opportunity
to redeem all or a portion of their Public Shares upon the completion of the initial Business Combination either (i) in connection
with a general meeting called to approve the initial Business Combination or (ii) without a shareholder vote by means of a tender
offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business Combination or conduct a tender
offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares at
a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days
prior to the consummation of the initial Business Combination, including interest earned on the funds held in the Trust Account (less
taxes payable, if any), divided by the number of then outstanding Public Shares, subject to certain limitations. The amount in the Trust
Account was approximately $10.28 per Public Share as of December 31, 2024 (before taxes payable, if any).

The
Ordinary Shares (as defined below) subject to redemption were recorded at a redemption value and classified as temporary equity upon
the completion of the Initial Public Offering, in accordance with Financial Accounting Standards Board (“FASB”) Accounting
Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” In such case, if the
Company seeks shareholder approval, a majority of the issued and outstanding Ordinary Shares voted will be voted in favor of the Business
Combination.

The
Company only has the duration of the Combination Period to complete the initial Business Combination.