Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 79

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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in connection with such Business Combination.

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 $0 incurred for the three months
ended March 31, 2025 and for the period from February 21, 2024 (inception) through March 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 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 of the initial Business Combination subject to the terms of the Underwriting Agreement,. This Deferred Discount will become
payable to the underwriters of the Initial Public Offering solely in the event that we complete a Business Combination, subject to the
terms of the Underwriting Agreement. If we fail to consummate an initial Business Combination within the Combination Period