Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 8

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 8
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 offering.
The typical initial public offering process takes a significantly longer period of time than the typical Business Combination transaction
process, and there are significant expenses and market and other uncertainties in the initial public offering process, including underwriting
discounts and commissions, marketing and road show efforts that may not be present to the same extent in connection with a Business Combination
with us.

Furthermore,
once a proposed initial Business Combination is completed, the target business will have effectively become public, whereas an initial
public offering is always subject to the underwriters’ ability to complete the offering, as well as general market conditions,
which could delay or prevent the offering from occurring or could have negative valuation consequences. Following an initial Business
Combination, we believe the target business would then have greater access to capital, an additional means of providing management incentives
consistent with shareholders’ interests and the ability to use its shares as currency for acquisitions. Being a public company
can offer further benefits by augmenting a company’s profile among potential new customers and vendors and aid in attracting talented
employees.

While
we believe that our structure and our Management Team’s backgrounds make us an attractive business partner, some potential target
businesses may view our status as a blank check company, such as our lack of an operating history and our ability to seek shareholder
approval of any proposed initial Business Combination, negatively.

Financial
Position

With funds available for a
Business Combination in the amount of approximately $236,335,105 as of December 31, 2024, before payment of $9,800,000 of deferred underwriting
fees and taxes payable, if any, we offer a target business a variety of options, such as creating a liquidity event for its owners, providing
capital for the potential growth and expansion of its operations or strengthening its balance sheet by reducing its debt ratio. Because
we are able to complete our initial Business Combination using our cash, debt or equity securities, or a combination of the foregoing,
we have the flexibility to use the most efficient combination that allows us to tailor the consideration to be paid to the target business
to fit its needs and desires. However, we have not taken any steps to secure third party financing and there can be no assurance it will
be available to us.

Effecting
Our Initial Business Combination

We
are not presently engaged in, and we will not engage in, any operations for an indefinite period of time until the consummation of the
initial Business Combination. We intend to effectuate our initial Business Combination using