Company: CUB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109274
Chunk: 6

Company: Lionheart Holdings
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
(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 IPO Promissory Note -related party 
     —  
     175,000 
  
    Repayment of IPO Promissory Note- related party 
     —  
     (180,000)
  
    Payment of offering costs 
     (75,000) 
     (487,875)
  
    Net cash (used in) provided by financing activities 
     (75,000) 
     231,532,125 

    Net Change in Cash 
     (554,562) 
     1,000,526 
  
    Cash – Beginning of period 
     891,017  
     — 
  
    Cash – End of period 
    $336,455  
    $1,000,526 

    Non-Cash investing and financing activities: 

    Offering costs included in accrued offering costs 
    $—  
    $75,000 
  
    Deferred Fee payable 
    $—  
    $9,800,000 
  
    Deferred legal fee payable 
    $100,000  
    $120,000 

The accompanying notes are an integral part of
the unaudited condensed financial statements. 

4

LIONHEART HOLDINGS

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

SEPTEMBER 30, 2025

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