Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 31

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 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. “Interim Financial Statements”.

Overview

We are a blank check company
incorporated in the Cayman Islands on February 21, 2024 formed for the purpose of effecting a Business Combination. We intend to effectuate
our Business Combination using cash derived from the proceeds of the Initial Public Offering and the Private Placement, the proceeds of
the sale of our Ordinary Shares in connection with our initial Business Combination (pursuant to any forward purchase agreements or backstop
agreements into which we may enter), Ordinary Shares issued to the owners of the target, debt issued to bank or other lenders or the owners
of the target, other securities issuances, or a combination of the foregoing.

We expect to continue to incur
significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will
be successful.

In 2024, the SEC adopted additional
rules and regulations relating to SPACs. The 2024 SPAC Rules require, among other matters, (i) additional disclosures relating to SPAC
sponsors and related persons; (ii) additional disclosures relating to SPAC Business Combination transactions; (iii) additional disclosures
relating to dilution and to conflicts of interest involving sponsors and their affiliates in connection with proposed Business Combination
transactions; (iv) additional disclosures regarding projections included in SEC filings in connection with proposed Business Combination
transactions; and (v) the requirement that both the SPAC and its target company be co-registrants in connection with registration
statements relating to proposed Business Combination transactions. In addition, the SEC’s adopting release provided guidance describing
circumstances in which a SPAC could become subject to regulation under the Investment Company Act, including its duration, asset composition,
business purpose, and the activities of the SPAC and its management team. The 2024 SPAC Rules may materially affect our ability to negotiate
and complete our initial Business Combination and may increase the costs and time related thereto.

We may seek to extend the
Combination Period consistent with applicable laws, regulations and stock exchange rules by amending our Amended and Restated Articles.
Such an amendment would require the approval of our Public Shareholders, who will be provided the opportunity to redeem all or a portion
of their Public