Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 232

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 232
---
    Net
    cash used in operating activities 
     (641,108)

    Cash Flows from Investing
    Activities: 

    Investment
    of cash into Trust Account 
     (230,000,000)
  
    Net
    cash used in investing activities 
     (230,000,000)

    Cash Flows from Financing
    Activities: 

    Proceeds from issuance
    of Class B Ordinary Shares to Sponsor 
     25,000 
  
    Proceeds from sale of
    Units, net of underwriting discounts paid 
     226,000,000 
  
    Proceeds from sale of
    Private Placements Warrants 
     6,000,000 
  
    Proceeds from IPO Promissory
    Note - related party 
     175,000 
  
    Repayment of IPO Promissory
    Note - related party 
     (180,000)
  
    Payment
    of offering costs 
     (487,875)
  
    Net
    cash provided by financing activities 
     231,532,125 

    Net Change in Cash 
     891,017 
  
    Cash – Beginning of period 
     — 
  
    Cash – End of period 
    $891,017 

    Non-Cash investing and financing
    activities: 

    Offering
    costs included in accrued offering costs 
    $75,000 
  
    Deferred
    underwriting fee payable 
    $9,800,000 
  
    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