Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 75

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 the target, other securities issuances, or a combination of the foregoing.

We expect to continue to incur
significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will
be successful.

In 2024, the SEC adopted additional
rules and regulations relating to SPACs. The 2024 SPAC Rules require, among other matters, (i) additional disclosures relating to SPAC
sponsors and related persons; (ii) additional disclosures relating to SPAC Business Combination transactions; (iii) additional disclosures
relating to dilution and to conflicts of interest involving sponsors and their affiliates in connection with proposed Business Combination
transactions; (iv) additional disclosures regarding projections included in SEC filings in connection with proposed Business Combination
transactions; and (v) the requirement that both the SPAC and its target company be co-registrants in connection with registration
statements relating to proposed Business Combination transactions. In addition, the SEC’s adopting release provided guidance describing
circumstances in which a SPAC could become subject to regulation under the Investment Company Act, including its duration, asset composition,
business purpose, and the activities of the SPAC and its management team. The 2024 SPAC Rules may materially affect our ability to negotiate
and complete our initial Business Combination and may increase the costs and time related thereto.

We may seek to extend the
Combination Period consistent with applicable laws, regulations and stock exchange rules by amending our Amended and Restated Articles.
Such an amendment would require the approval of our Public Shareholders, who will be provided the opportunity to redeem all or a portion
of their Public Shares in connection with the vote on such approval. Such redemptions will decrease the amount held in our Trust Account
and our capitalization, and may affect our ability to maintain our listing on Nasdaq. In addition, the Nasdaq Rules currently require
SPACs (such as us) to complete our initial Business Combination in accordance with the Nasdaq 36-Month Requirement. If we do not meet
the Nasdaq 36-Month Requirement, our securities will likely be subject to a suspension of trading and delisting from Nasdaq. Our Sponsor
may also, in its discretion, explore transactions under which it would sell its interest in our Company to another sponsor entity, which
may result in a change to our Management Team.

19

Results of Operations

We
have neither engaged in any operations nor generated any revenues to date. Our