Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 90

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 90
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the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing
segment performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently
required by FASB ASC Topic 280, “Segment Reporting,” (“ASC 280”) in interim periods, and entities with a
single reportable segment are required to provide all the disclosures required by the amendments in ASU 2023-07 and existing segment
disclosures in ASC 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal
years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 as required for the year ended
December 31, 2024. The adoption required the Company to provide additional disclosure, but otherwise it does not materially impact the
accompanying financial statement.

Management
does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material
effect on the accompanying financial statement.

NOTE
3. PUBLIC OFFERING

Pursuant to the Initial Public Offering, the Company
sold 23,000,000 Units, which included the full exercise of the Over-Allotment Option in the amount of 3,000,000 Option Units, at
a purchase price of $10.00 per Option Unit. Each Unit consists of one Public Share, and one-half of one Public Warrant. Each whole Public
Warrant entitles the holder to purchase one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment. No fractional
Public Warrants will be issued upon separation of the Units and only whole Public Warrants trade. Each Public Warrant becomes exercisable
30 days after the completion of the initial Business Combination and will expire five years after the completion of the initial
Business Combination, or earlier upon redemption or liquidation.

NOTE
4. PRIVATE PLACEMENT

Simultaneously
with the Initial Public Offering, the Sponsor and Cantor purchased an aggregate of 6,000,000 Private Placement Warrants at $11.50
per share, at a price of $1.00 per Private Placement Warrant, or $6,000,000 in the aggregate. Of those 6,000,000 Private Placement Warrants,