Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 745

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 7
Chunk 745
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, 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.

F-7

LIONHEART
HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

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”) that may only be invested in the 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 the Management Team’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. 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 Company’s
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