Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 44

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 44
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 through the IPO Promissory Note of $5,000. Changes in operating assets and liabilities used $150,659 of cash for operating activities.  

As of December 31, 2024, we
had marketable securities held in the Trust Account of approximately $236,335,105 (including approximately $6,335,105 of interest income)
consisting of the U.S. Department of the Treasury bills with a maturity of 185 days or less. We may withdraw interest from the Trust Account
to pay taxes, if any. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company
Act, which risk increases the longer that we hold investments in the Trust Account, we may, at any time (based on our Management’s
ongoing assessment of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate
the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand
deposit account at a bank

We intend to use substantially all of the funds held in the Trust Account,
including any amounts representing interest earned on the Trust Account (less income taxes payable, if any), to complete our Business
Combination. To the extent that our share capital or debt is used, in whole or In part, as consideration to complete our Business Combination,
the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses,
make other acquisitions and pursue our growth strategies.    

As
of December 31, 2024, we had cash of $891,017. We intend to use the funds held outside the Trust Account primarily to identify and evaluate
target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar
locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of
prospective target businesses, and structure, negotiate and complete a Business Combination.

In
order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain
of our officers and directors or their affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business
Combination, we would repay such Working Capital Loans. In the event that a Business Combination does not close, we may use a portion
of the working capital held outside the Trust Account to repay such