Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 30

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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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 Class A Ordinary 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 W