Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 491

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 4
Chunk 491
---
 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 through the IPO Promissory Note of $5,000. Changes in operating assets and liabilities used $150,659 of cash for operating activities.  

As of December 31, 2024, we
had marketable securities held in the Trust Account of approximately $236,335,105 (including approximately $6,335,105 of interest income)
consisting of the U.S. Department of the Treasury bills with a maturity of 185 days or less. We may withdraw interest from the Trust Account
to pay taxes, if any. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company
Act, which risk increases the longer that we hold investments in the Trust Account, we may, at any time (based on our Management’s
ongoing assessment of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate
the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand
deposit account at a bank

We intend to use substantially all of the funds held in the Trust Account,
including any amounts representing interest earned on the Trust Account (less income taxes payable, if any), to complete our Business
Combination. To the extent that our share capital or debt is used, in whole or In part, as consideration to complete our Business Combination,
the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses,
make other acquisitions and pursue our growth strategies.