Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 35

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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-looking statements as a result of certain factors detailed
in our filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf
are qualified in their entirety by this paragraph.

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with the unaudited
condensed financial statements and the notes thereto included in this Report under Item 1. “Financial Statements”.

Overview

We
are a blank check company incorporated in the Cayman Islands on February 21, 2024 for the purpose of effecting a Business Combination.
Our Sponsor is Lionheart Sponsor, LLC.

We
are not limited in our search for target businesses to a particular industry or sector for the purpose of consummating the Business Combination.
We are an early stage and emerging growth company and, as such, we are subject to all of the risks associated with early stage and emerging
growth companies. We expect to continue to incur significant costs in the pursuit of our acquisition plans. There can be no assurance
that our plans to complete a Business Combination will be successful.

Our
IPO Registration Statement became effective on June 17, 2024. On June 20, 2024, we consummated our Initial Public Offering of 23,000,000
Units, including 3,000,000 Option Units issued pursuant to the full exercise of the Over-Allotment Option. Each Unit consists of one Public
Share and one-half of one Public Warrant. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to us of $230,000,000.

Simultaneously
with the closing of the Initial Public Offering and pursuant to the Private Placement Warrants Purchase Agreements, we completed the sale
of an aggregate of 6,000,000 Private Placement Warrants to the Sponsor and Cantor in the Private Placement at a purchase price of $1.00
per Private Placement Warrants, generating gross proceeds to us of $ 6,000,000. Of those 6,000,000 Private Placement Warrants, the Sponsor
purchased 4,000,000 Private Placement Warrants and Cantor purchased 2,000,000 Private Placement Warrants. The Private Placement Warrants
are identical to the Public Warrants, except as otherwise disclosed in the IPO Registration Statement.

Following
the closing of the Initial Public Offering and Private Placement, an amount of $230,000,000