Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 733

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 7
Chunk 733
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Business Combination, will be paid from funds held outside the Trust Account.

Since
the consummation of our Initial Public Offering, pursuant to the Administrative Services Agreement, we reimburse an affiliate of our
Sponsor an amount equal to $15,000 per month for office space, utilities and secretarial and Administrative Services made available to
us. Upon completion of our initial Business Combination or our liquidation, we will cease paying these monthly fees. Under
the Administrative Services Agreement, there was $95,000 incurred for the period from February 21, 2024 (inception) through December
31, 2024.

On
March 8, 2024, the Sponsor agreed to loan us an aggregate of up to $300,000 to cover expenses related to the Initial Public Offering
pursuant to the IPO Promissory Note. This loan was non-interest bearing and was payable on the earlier of December 31, 2024, or the date
on which we consummate the Initial Public Offering. The outstanding balance of $180,000 was repaid 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