Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 1300

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 12
Chunk 1300
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 Account
are determined using available market information. At December 31, 2024, the assets held in the Trust Account of $236,335,105 were held
in money market funds.

Offering
Costs

The
Company complies with the requirements of the FASB ASC Topic 340-10-S99, “Other Assets and Deferred Costs”, and SEC Staff
Accounting Bulletin Topic 5A,“Expenses of Offering.” Deferred offering costs consist principally of professional and registration
fees that are related to the Initial Public Offering. FASB ASC Topic 470-20, “Debt with Conversion and Other Options” (“ASC
470-20”), addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company
applies this guidance to allocate Initial Public Offering proceeds from the Units between Public Shares and Warrants, using the residual
method by allocating Initial Public Offering proceeds first to assigned value of the Warrants and then to the Public Shares. Offering
costs allocated to the Public Shares were charged to temporary equity and offering costs allocated to the Public Warrants and Private
Placement Warrants were charged to shareholders’ deficit.

Fair
Value of Financial Instruments

The
fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC Topic 820, “Fair
Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet, primarily due to its short-term
nature.

Class
A Ordinary Shares Subject to Possible Redemption

The
Public Shares contain a redemption feature that allows for the redemption of such Public Shares in connection with the Company’s
liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In
accordance with FASB ASC Topic 480-10-S99,“Distinguishing Liabilities from Equity”, the Company classifies Public Shares
subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The
Public Shares were issued with other freestanding instruments (i.e., the Public Warrants) and as such, the initial carrying value of
the Public Shares classified as temporary equity are the allocated proceeds determined in accordance with ASC 470-20. The Company recognizes
changes in redemption value immediately as it occurs and will adjust the carrying value of redeemable shares to equal the redemption
value at the end of each reporting period. Immediately upon the closing of the Initial