Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 10

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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holders”).

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 $10.59 per Public Share as of September 30, 2025 (before taxes payable, if
any).

The Ordinary Shares (as defined
in Note 5) 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. If the Company is unable to complete the Business Combination
within the Combination Period, the Company will, as promptly as reasonably possible, but not more than ten business days
thereafter, redeem the Public Shares, 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 (less taxes payable, if any, and less up to $100,000 of interest
to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will constitute full and complete
payment for the Public Shares and completely extinguish Public Shareholders’ rights as shareholders (including the right to receive
further liquidation or other distributions, if any), subject to the Company’s obligations under Cay