Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 223

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 223
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aid at the closing of the Initial Public
Offering on June 20, 2024, and borrowings under the IPO Promissory Note are no longer available.

In
addition, in order to finance transaction costs in connection with an intended initial Business Combination, our Sponsor or an affiliate
of our Sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required on a non-interest basis.
If we complete an initial Business Combination, we would repay such Working Capital Loans. In the event that the initial Business Combination
does not close, we may use amounts held outside the Trust Account to repay such 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 applicable lender. Such warrants would be identical
to the Private Placement Warrants. Except as set forth above, the terms of such Working Capital Loans, if any, have not been determined
and no written agreements exist with respect to such Working Capital Loans. Prior to the completion of our initial Business Combination,
we do not expect to seek loans from parties other than our Sponsor or an affiliate of our Sponsor as we do not believe third parties
will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our Trust Account.

We
have until June 20, 2026 or until such earlier liquidation date as our Board of Directors may approve, to consummate our initial Business
Combination. If we anticipate that we may be unable to consummate our initial Business Combination within the Combination Period, we
may seek shareholder approval to amend our Amended and Restated Charter to extend the date by which we must consummate our initial Business
Combination. If we seek shareholder approval for an extension, Public Shareholders will be offered an opportunity to redeem their Public
Shares at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned thereon (less taxes payable, if any), divided by the number of then issued and outstanding Public Shares, subject to applicable
law.

Any
of the foregoing payments to our Sponsor, repayments of loans from our Sponsor or repayments of working capital loans prior to our initial
Business Combination will be made using funds held outside the