Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 66

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 66
---
writing discount of 4.0% of the gross proceeds of the Initial Public Offering held in
the Trust Account, other than those sold pursuant to the Over-Allotment Option and 6.0% of the gross proceeds sold pursuant to the Over-Allotment
Option, amounting to $9,800,000 in the aggregate upon the completion of the Company’s initial Business Combination subject to the
terms of the underwriting agreement, dated June 17, 2024 (the “Deferred Discount”).

Deferred Legal Fees

As of March 31, 2025 and December
31, 2024, the Company had a total of $225,000 and $175,000, respectively, of deferred legal fees to be paid to the Company’s legal
advisors upon consummation of the Business Combination, of which the Company paid $50,000 prior to the close of the Business Combination,
and the remaining $175,000 and $125,000 is included in the accompanying condensed balance sheets as of March 31, 2025 and December 31,
2024, respectively.

NOTE 7. SHAREHOLDERS’ DEFICIT

Preference Shares

The Company is authorized
to issue a total of 5,000,000 preference shares at par value of $0.0001 each. As of March 31, 2025 and December 31, 2024, there were no
preference shares issued or outstanding.

14

Class A Ordinary Shares

The Company is authorized
to issue a total of 500,000,000 Class A Ordinary Shares at par value of $0.0001 each. As of March 31, 2025 and December 31, 2024,
there were no Class A Ordinary Shares issued or outstanding, excluding 23,000,000 Class A Ordinary Shares subject to possible redemption.

Class B Ordinary Shares

The Company is authorized
to issue a total of 50,000,000 Class B Ordinary Shares at par value of $0.0001 each. As of March 31, 2025 and December 31, 2024,
there were 7,666,667 Class B Ordinary Shares issued and outstanding.

The Founder Shares will automatically
convert into Class A Ordinary Shares concurrently with or immediately following the consummation of the initial Business Combination
or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share sub-div