Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 63

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 an aggregate of $225,000 and $175,000, respectively,
of legal fees from Wasserstrom. On June 25, 2024, the Company paid $50,000 and the remaining $175,000 is recorded within deferred legal
fees since it is due at the time of the Business Combination.

12

Administrative Services Agreement

Commencing on June 18, 2024,
the Company entered into an agreement with the Sponsor or an affiliate to pay an aggregate of $15,000 per month for office space, utilities,
and secretarial and administrative services. For the three months ended March 31, 2025 and for the period from February 21, 2024
(Inception) through March 31, 2024, the Company incurred $45,000 and $0 in fees for these services, respectively, of which such amount
is included in general and administrative and formation costs in the accompanying unaudited condensed statements of operations.

Letter Agreement

The Sponsor, officers and
directors have entered into the Letter Agreement, pursuant to which they have agreed to (i) waive their redemption rights with respect
to their Founder Shares and Public Shares in connection with the completion of the initial Business Combination; (ii) waive their
redemption rights with respect to their Founder Shares and Public Shares in connection with a shareholder vote to approve an amendment
to the Amended and Restated Articles (x) to modify the substance or timing of the Company’s obligation to allow redemption
in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company has not consummated an initial
Business Combination within the Combination Period or (y) with respect to any other material provisions relating to shareholders’
rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions from the Trust Account
with respect to their Founder Shares if the Company fails to complete the initial Business Combination within the Combination Period,
although they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the
Company fails to complete the initial Business Combination within the Combination Period and to liquidating distributions from assets
outside the Trust Account; and (iv) vote any Founder Shares held by them and any Public Shares purchased during or after the Initial
Public Offering (including in open market and privately-negotiated transactions) in favor of the initial Business Combination (except
that any Public Shares such parties