Company: CUB
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074966
Chunk: 30

Company: Lionheart Holdings
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 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.

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 10 trading days ending on the third trading day prior to the date on which the notice of exercise is received
by the warrant agent or on which the notice of redemption is sent to the holders of Public Warrants, as applicable (the “Fair Market
Value”).

Redemption of Warrants When the Price per
Class A Ordinary Share Equals or Exceeds $18.00

The Company may redeem the
outstanding Warrants:

●in
whole and not in part;

●at
a price of $0.01 per Warrant;

●upon
a minimum of 30 days’ prior written notice of redemption; and

●if,
and only if, the closing price of the Class A Ordinary Shares equals or exceeds $18.00 per share (as adjusted for adjustments to
the number of Class A Ordinary Shares issuable upon exercise or the exercise price of a Warrant) for any 20 trading days within
a 30-trading day period commencing at least 30 days after completion of the Company’s initial Business Combination and
ending three business days before the Company sends the notice of redemption to the warrant holders.

16

Additionally, if the number
of outstanding Class A Ordinary Shares is increased by a share capitalization payable in Class A Ordinary Shares, or by a sub-division of
Ordinary Shares or other similar event, then, on the effective date of such share capitalization, sub-division or similar event,
the number of Class