Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 71

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 ● if, and only if, the closing price of the Class A Ordinary Shares equals or exceeds $18.00 per share (as adjusted for adjustments to the number of Class A Ordinary Shares issuable upon exercise or the exercise price of a Warrant) for any 20 trading days within a 30-trading day period commencing at least 30 days after completion of the Company’s initial Business Combination and ending three business days before the Company sends the notice of redemption to the warrant holders. 

16

Additionally, if the number
of outstanding Class A Ordinary Shares is increased by a share capitalization payable in Class A Ordinary Shares, or by a sub-division of
Ordinary Shares or other similar event, then, on the effective date of such share capitalization, sub-division or similar event,
the number of Class A Ordinary Shares issuable on exercise of each Warrant will be increased in proportion to such increase in the
outstanding Ordinary Shares. A rights offering made to all or substantially all holders of Ordinary Shares entitling holders to purchase
Class A Ordinary Shares at a price less than the Fair Market Value will be deemed a share capitalization of a number of Class A
Ordinary Shares equal to the product of (i) the number of Class A Ordinary Shares actually sold in such rights offering (or
issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for Class A Ordinary
Shares) and (ii) the quotient of (x) the price per Class A Ordinary Share paid in such rights offering and (y) the
fair market value. For these purposes, (i) if the rights offering is for securities convertible into or exercisable for Class A
Ordinary Shares, in determining the price payable for Class A Ordinary Shares, there will be taken into account any consideration
received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) fair market value means the
volume weighted average price of Class A Ordinary Shares as reported during the ten (10) trading day period ending on the trading day
prior to the first date on which the Class A Ordinary Shares trade on the applicable exchange or in the applicable market, regular
way, without the right to receive such rights.

NOTE 8 — FAIR VALUE MEASUREMENT

The fair value of the