Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 60

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 Standards Update 2023-07, “Segment Reporting (Topic 280): “Improvements to Reportable Segment Disclosures”
(“ASU 2023-07”). The amendments in ASU 2023-07 require disclosures, on an annual and interim basis, of significant segment
expenses that are regularly provided to the chief operating officer decision maker (“CODM”), as well as the aggregate amount
of other segment items included in the reported measure of segment profit or loss. ASU 2023-07 requires that a public entity disclose
the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing
segment performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently
required by FASB ASC Topic 280, “Segment Reporting,” (“ASC 280”) in interim periods, and entities with a
single reportable segment are required to provide all the disclosures required by the amendments in ASU 2023-07 and existing segment disclosures
in ASC 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 as required for the period ended March 31, 2025.
The adoption required the Company to provide additional disclosure, but otherwise it does not materially impact the accompanying condensed
financial statements.

Management does not believe
that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the accompanying
condensed financial statements.

NOTE 3. PUBLIC OFFERING

Pursuant to the Initial Public
Offering, the Company sold 23,000,000 Units, which included the full exercise of the Over-Allotment Option in the amount of 3,000,000
Option Units, at a purchase price of $10.00 per Option Unit. Each Unit consists of one Public Share, and one-half of one Public Warrant.
Each whole Public Warrant entitles the holder to purchase one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment.
No fractional Public Warrants will be issued upon separation of the Units and only whole Public Warrants trade. Each Public Warrant becomes
exercisable 30 days after the completion of the