Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 453

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 3
Chunk 453
---

    securities held in Trust Account 
     (6,335,105)
  
    Changes in operating
    assets and liabilities: 

    Prepaid expenses 
     (10,034)
  
    Prepaid insurance 
     (78,750)
  
    Long term prepaid insurance 
     (91,875)
  
    Deferred legal fee payable 
     25,000 
  
    Accrued
    expenses 
     5,000 
  
    Net
    cash used in operating activities 
     (641,108)

    Cash Flows from Investing
    Activities: 

    Investment
    of cash into Trust Account 
     (230,000,000)
  
    Net
    cash used in investing activities 
     (230,000,000)

    Cash Flows from Financing
    Activities: 

    Proceeds from issuance
    of Class B Ordinary Shares to Sponsor 
     25,000 
  
    Proceeds from sale of
    Units, net of underwriting discounts paid 
     226,000,000 
  
    Proceeds from sale of
    Private Placements Warrants 
     6,000,000 
  
    Proceeds from IPO Promissory
    Note - related party 
     175,000 
  
    Repayment of IPO Promissory
    Note - related party 
     (180,000)
  
    Payment
    of offering costs 
     (487,875)
  
    Net
    cash provided by financing activities 
     231,532,125 

    Net Change in Cash 
     891,017 
  
    Cash – Beginning of period 
     — 
  
    Cash – End of period 
    $891,017 

    Non-Cash investing and financing
    activities: 

    Offering
    costs included in accrued offering costs 
    $75,000 
  
    Deferred
    underwriting fee payable 
    $9,800,000 
  
    Deferred
    legal fee payable 
    $100,000 

The
accompanying notes are an integral part of this financial statement.

F-6

LIONHEART
HOLDINGS

NOTES
TO FINANCIAL STATEMENT

DECEMBER
31, 2024

NOTE 1.
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Lionheart Holdings (the “Company”)
is a blank check company incorporated as a