Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 0

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 0
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Item
1. Business.

Overview

We
are a blank check company incorporated on February 21, 2024 as a Cayman Islands exempted company and formed for the purpose of effecting
a Business Combination. We have not selected any Business Combination target.

We
may pursue an initial Business Combination target in any business or industry or at any stage of its corporate evolution. Our primary
focus, however, will be in completing a Business Combination with an established business of scale poised for continued growth, led by
a highly regarded management team. Our Management Team has an extensive track record of acquiring attractive assets at disciplined valuations,
investing in growth while fostering financial discipline and improving business results.

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.

Initial
Public Offering

On June 20, 2024, we consummated our Initial Public Offering of 23,000,000
Units, including 3,000,000 Option Units issued pursuant to the full exercise of the Over-Allotment Option. Each Unit consists of one Public
Share and one-half of one Public Warrant, with each whole Public Warrant entitling the holder thereof to purchase one Class A Ordinary
Share for $11.50 per share. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to our Company of $230,000,000,
including the proceeds from the full exercise of the Over-Allotment Option.

Simultaneously
with the closing of the Initial Public Offering, we completed the private sale of an aggregate of 6,000,000 Private Placement Warrants
to the Sponsor and Cantor in the Private Placement at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds
of $6,000,000. Of those 6,000,000 Private Placement Warrants, our Sponsor purchased 4,000,000 Private Placement Warrants and Cantor
purchased 2,000,000 Private Placement Warrants. The Private Placement Warrants (and underlying securities) are identical to the
Public Warrants, except as otherwise disclosed herein. 

A
total of $230,000,000, comprised of $224,000,000 of the proceeds from the Initial Public Offering and $6,000,000 of the proceeds of the
Private Placement, was placed in the Trust Account maintained by