Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 41

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 three and nine months ended September 30, 2025,
respectively. For the three months ended September 30, 2024 and for the period from February 21, 2024 (Inception) through September 30,
2024, we incurred $42,500 and $50,000 in fees for these services, respectively.

20

Underwriting Agreement

The Underwriters 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 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 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 Fee of (i) 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 (ii) 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 Fee will become payable to the Underwriters 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, such Deferred Fee will be included with the funds held in the Trust Account that will be available to fund the
redemption of our Public Shares upon the liquidation of the Trust Account.

Registration Rights Agreement

The holders of (i) the Founder
Shares, (ii) the Private Placement Warrants and (iii) any private placement-equivalent warrants issued in connection with the Working
Capital Loans, if any, and in each case holders of their underlying securities, as applicable) are entitled to registration rights pursuant
to the Registration Rights Agreement, requiring us to