Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 45

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 45
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 Working Capital Loans, but no proceeds from our Trust Account would
be used for such repayment. Up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post Business Combination
entity at a price of $1.00 per warrant at the option of the lender.

We
do not believe we will need to raise additional funds in order to meet the expenditures required for operating our business. However,
if our estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination
are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our Business
Combination. Moreover, we may need to obtain additional financing either to complete our Business Combination or because we become obligated
to redeem a significant number of our Public Shares upon consummation of our Business Combination, in which case we may issue additional
securities or incur debt in connection with such Business Combination.

23

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 $95,000 incurred for the period from February 21, 2024 (inception) through
December 31, 2024.

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