Company: CUB
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074966
Chunk: 35

Company: Lionheart Holdings
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 35
---
AC Business Combination transactions; (iii) additional
disclosures relating to dilution and to conflicts of interest involving sponsors and their affiliates in connection with proposed Business
Combination transactions; (iv) additional disclosures regarding projections included in SEC filings in connection with proposed Business
Combination transactions; and (v) the requirement that both the SPAC and its target company be co-registrants in connection with registration
statements relating to proposed Business Combination transactions. In addition, the SEC’s adopting release provided guidance describing
circumstances in which a SPAC could become subject to regulation under the Investment Company Act, including its duration, asset composition,
business purpose, and the activities of the SPAC and its management team. 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.

We may seek to extend the
Combination Period consistent with applicable laws, regulations and stock exchange rules by amending our Amended and Restated Articles.
Such an amendment would require the approval of our Public Shareholders, who will be provided the opportunity to redeem all or a portion
of their Public Shares in connection with the vote on such approval. Such redemptions will decrease the amount held in our Trust Account
and our capitalization, and may affect our ability to maintain our listing on Nasdaq. In addition, the Nasdaq Rules currently require
SPACs (such as us) to complete our initial Business Combination in accordance with the Nasdaq 36-Month Requirement. If we do not meet
the Nasdaq 36-Month Requirement, our securities will likely be subject to a suspension of trading and delisting from Nasdaq. Our Sponsor
may also, in its discretion, explore transactions under which it would sell its interest in our Company to another sponsor entity, which
may result in a change to our Management Team.

19

Results of Operations

We have neither engaged
in any operations nor generated any revenues to date. Our only activities from February 21, 2024 (inception) through June 30, 2025 were
organizational activities, those necessary to prepare for the Initial Public Offering, completion of the Initial Public Offering, and
following the Initial Public Offering, identifying a target company for a Business Combination. We do not expect to generate any operating
revenues until after the completion of our Business Combination. We generate non-operating income in the form of interest income on marketable
securities held in the Trust Account