Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 3

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 3
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 with speculative business plans, or companies that are excessively leveraged.

●Competitive
                                            Position. We intend to invest in one or more businesses that have a leading, growing
                                            or unique niche market position in their respective sectors. We analyze the strengths and
                                            weaknesses of target businesses relative to their competitors. We seek to invest in one or
                                            more businesses that demonstrate advantages when compared to their competitors, including
                                            capable management team, defensible proprietary technology, strong adoption rates, and relevant
                                            domain expertise.

●Capable
                                            Management Team. We seek to invest in one or more businesses that have experienced management
                                            teams or those that provide a platform for us to assemble an effective and capable management
                                            team. We are focusing on management teams with a track record of driving revenue growth and
                                            creating value for their shareholders.

●Benefit
                                            from Being a Public Company. We intend to invest in one or more businesses that will
                                            benefit from being publicly listed and can effectively utilize the broader access to capital
                                            and the public profile to grow and accelerate shareholder value creation.

2

●Defensible
                                            Business Niche. We seek companies that have a leading or niche market position and that
                                            demonstrate advantages when compared to their competitors, which may help to create barriers
                                            to entry against new competitors.

●Potential
                                            for Stable Free Cash Flow. We seek to acquire a business that has historically generated,
                                            or has the near-term potential to generate, strong and sustainable free cash flow.

These
criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial Business Combination may be
based, to the extent relevant, on these general guidelines, as well as other considerations, factors and criteria that our Management
may deem relevant. We may decide to enter into our initial Business Combination with a target business that does not meet the above criteria
and guidelines, and in the event we do so, we will disclose that the target business does not meet the above criteria in our shareholder
communications related to our initial Business Combination, which, as discussed in this Report, will be in the form of proxy solicitation
materials or tender offer documents that we will file with the SEC.

Acquisition
Process

In
evaluating a prospective target business, we conduct a due diligence review that encompasses, among other things, meetings with incumbent
management and employees, document reviews, interviews of customers and suppliers, inspection of facilities, as applicable, as well as
a review of financial