Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 43

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 43
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Our
results of operations and our ability to complete an initial Business Combination may be adversely affected by various factors that could
cause economic uncertainty and volatility in the financial markets, many of which are beyond our control. Our results of operations and
our ability to consummate an initial Business Combination could be impacted by, among other things, downturns in the financial markets
or in economic conditions, increases in oil prices, inflation, increases in interest rates and tariffs, supply chain disruptions, declines
in consumer confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts in Ukraine,
the Middle East and Southeast Asia. We cannot at this time predict the likelihood of one or more of the above events, their duration or
magnitude or the extent to which they may negatively impact our business and our ability to complete an initial Business Combination.

Liquidity
and Capital Resources

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.

On June 20, 2024,
we consummated the Initial Public Offering of 23,000,000 Units at $10.00 per Unit, which included the full exercise of the Over-Allotment
Option in the amount of 3,000,000 Option Units at $10.00 per Option Unit, and the sale of an aggregate of 6,000,000 Private Placement
Warrants to the Sponsor and Cantor, at a price of $1.00 per Private Placement Warrants, or $6,000,000 in the aggregate, in the Private
Placement that closed simultaneously with the Initial Public Offering.

For
the period from February 21, 2024 (inception) through December 31, 2024, cash used in operating activities was $641,108. Net income of
$5,839,656 was affected by interest earned on marketable securities held in the Trust Account of $6,335,105 and payment of formation
costs