Company: CUB
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074966
Chunk: 86

Company: Lionheart Holdings
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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and subsequent dissolution of the Company. We have determined that the liquidity condition and mandatory liquidation, should a Business
Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as
a going concern. We intend to consummate a Business Combination prior to June 22, 2026. No adjustments have been made to the carrying
amounts of assets or liabilities should the Company be required to liquidate after June 22, 2026.

Contractual Obligations

We do not have any long-term
debt, capital lease obligations, operating lease obligations or long-term liabilities, other than as set forth below.

Administrative Services Agreement

Commencing on June 18, 2024,
and until completion of our initial Business Combination or liquidation, we reimburse an affiliate of our Sponsor $15,000 per month for
certain office space, utilities and secretarial and administrative services as may be reasonably required by our Company pursuant to
the Administrative Services Agreement. Under the Administrative Services Agreement, there was $45,000 and $90,000 incurred for the three
and six months ended June 30, 2025.

Underwriting Agreement

The underwriters of the
Initial Public Offering had a 45-day option from the date of the Initial Public Offering to purchase up to an additional 3,000,000 Option
Units to cover over-allotments, if any. On June 20, 2024, simultaneously with the closing of the Initial Public Offering, the Over-Allotment
Option was fully exercised to purchase the additional 3,000,000 Option Units at a price of $10.00 per Option Unit.

The underwriters of the
Initial Public Offering were entitled to a cash underwriting discount of $4,000,000 (2.0% of the gross proceeds of the Units offered
in the Initial Public Offering, excluding any proceeds from Units sold pursuant to the full exercises of the Over-Allotment Option),
paid at the closing of the Initial Public Offering. Additionally, the underwriters are entitled to the Deferred 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 full exercise of the Over-Allotment Option, amounting to $9,800,000 in
the aggregate upon the completion