Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 69

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 Public Shares classified as temporary equity are the allocated proceeds
determined in accordance with ASC 470-20. The Company recognizes changes in redemption value immediately as it occurs and will adjust
the carrying value of redeemable Public Shares to equal the redemption value at the end of each reporting period. Immediately upon the
closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change
in the carrying value of redeemable Public Shares will result in charges against additional paid-in capital (to the extent available)
and accumulated deficit. Accordingly, as of September 30, 2025 and December 31, 2024, Class A Ordinary Shares subject to possible redemption
are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the accompanying condensed
balance sheets. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable
Class A Ordinary Shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount
of redeemable Class A Ordinary Shares are affected by charges against additional paid-in capital and accumulated deficit.

As of September 30, 2025
and December 31, 2024, the Class A Ordinary Shares subject to redemption reflected in the accompanying condensed balance sheets are reconciled
in the following table:

    Gross Proceeds 
    $230,000,000 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (460,000)
  
    Class A Ordinary Shares issuance costs 
     (14,417,130)
  
    Plus: 

    Accretion of carrying value to redemption value 
     21,212,235 
  
    Class A Ordinary Shares subject to possible redemption, December 31, 2024 
     236,335,105 
  
    Plus: 

    Accretion of carrying value to redemption value 
     2,447,259 
  
    Class A Ordinary Shares subject to possible redemption, March 31, 2025 (Unaudited) 
     238,782,364 
  
    Plus: 

    Accretion of carrying value to redemption value 
     2,477,873 
  
    Class A Ordinary Shares subject to possible redemption, June 30, 2025 (Unaudited) 
     241,260,237 
  
    Plus: 

    Accretion of carrying value to redemption value