Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 380

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 2
Chunk 380
---
,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 Cayman Islands exempted corporation on February 21, 2024. The Company was incorporated
for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business
combination with one or more businesses (the “Business Combination”). The Company is not limited to a particular industry
or geographic region for purposes of consummating a Business Combination. The Company is an early-stage and emerging growth company and,
as such, the Company is subject to all of the risks associated with early-stage and emerging growth companies.

As
of December 31, 2024, the Company had not commenced any operations. All activity for the period from February 21, 2024 (inception)
through December 31, 2024 relates to the Company’s formation, the Initial Public Offering (as defined below), and subsequent to
the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenues
until after the completion of its initial Business Combination, at the earliest. The Company generates non-operating income in the form
of interest income on investments from the proceeds derived from the Initial Public Offering. The Company has selected December 31
as its fiscal year end.

The
Company’s sponsor is Lionheart Sponsor, LLC (the “Sponsor”).

The Registration Statement on Form S-1 for the
Initial Public Offering, initially filed with the Securities and Exchange Commission (the “SEC”) on May 28, 2024,
as amended (File No. 333-279751), was declared effective on June 17, 2024 (the “IPO Registration Statement”). On
June 20, 2024, the Company consummated the initial public offering of 23,000,000 units of the Company at $10.00 per unit (the “Units”),
which included the full exercise by the underwriters of their over-allotment option (the “Over-All