Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 24

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 24
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 Charter
(x) to modify the substance or timing of our obligation to allow redemptions in connection with our initial Business Combination or to
redeem 100% of our Public Shares if we do not complete our 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, in each case unless
we provide our Public Shareholders with the opportunity to redeem their Public Shares upon approval of any such amendment at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held
in the Trust Account (net of taxes payable, if any), divided by the number of then outstanding Public Shares.

We
expect that all costs and expenses associated with implementing our plan of dissolution, as well as payments to any creditors, will be
funded from amounts remaining out of the approximately $891,017 of proceeds held outside the Trust Account, as of December 31, 2024,
although we cannot assure you that there will be sufficient funds for such purpose. However, if those funds are not sufficient to cover
the costs and expenses associated with implementing our plan of dissolution, to the extent that there is any interest accrued in the
Trust Account not required to pay taxes on interest income earned on the Trust Account balance, we may request the trustee to release
to us an additional amount of up to $100,000 of such accrued interest to pay those costs and expenses.

If we were to expend all of
the net proceeds of the Initial Public Offering and the Private Placement, other than the proceeds deposited in the Trust Account, the
per-share redemption amount received by shareholders upon our dissolution would be approximately $10.28 as of December 31, 2024 (before
taxes payable, if any, and less up to $100,000 of interest to pay dissolution expenses). The proceeds deposited in the Trust Account could,
however, become subject to the claims of our creditors, which would have higher priority than the claims of our Public Shareholders. We
cannot assure you that the actual per-share redemption amount received by Public Shareholders will not be substantially less than approximately
$10.28. While we intend to pay such amounts, if any, we cannot assure you that we will have funds sufficient to pay or provide for all
creditors’ claims.

Although
we seek to have all vendors, service providers, prospective target businesses and other entities with which we