Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 180

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1A
Chunk 180
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 Class A Ordinary Shares issuable upon exercise of
the Warrants and thereafter will use its commercially reasonable efforts to cause the same to become effective within 60 business days
following the initial Business Combination and to maintain a current prospectus relating to the Class A Ordinary Shares issuable
upon exercise of the Warrants until the expiration of the Warrants in accordance with the provisions of the Warrant Agreement. If a registration
statement covering the Class A Ordinary Shares issuable upon exercise of the Warrants is not effective by the sixtieth (60th)
business day after the closing of the initial Business Combination, warrant holders may, until such time as there is an effective
registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise
Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding
the above, if the Class A Ordinary Shares are at the time of any exercise of a warrant not listed on a national securities exchange
such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the
Company may, at its option, require holders of Public Warrants who exercise their Public Warrants to do so on a “cashless basis”
in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required
to file or maintain in effect a registration statement, and in the event the Company does not so elect, the Company will use its commercially
reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

F-16

LIONHEART
HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

If
the holders exercise their Public Warrants on a cashless basis, they would pay the warrant exercise price by surrendering the Public
Warrants for that number of Class A Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number
of Class A Ordinary Shares underlying the Public Warrants, multiplied by the excess of the Fair Market Value (as defined below)
of the Class A Ordinary Shares over the exercise price of the Public Warrants by (y) the average reported closing price of
the Class A Ordinary Shares for the