Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 32

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 32
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 end of that year’s second fiscal quarter, or (ii) our annual
revenues equaled or exceeded $100 million during such completed fiscal year and the market value of our Class A Ordinary Shares held
by non-affiliates exceeds $700 million as of the end of that year’s second fiscal quarter.

Further,
prior to the consummation of a Business Combination, only holders of our Class B Ordinary Shares have the right to vote on the appointment
or removal of directors. As a result, Nasdaq considers us to be a “controlled company” within the meaning of Nasdaq corporate
governance standards. Under Nasdaq corporate governance standards, a company of which more than 50% of the voting power for the appointment
of directors is held by an individual, group or another company is a “controlled company” and may elect not to comply with
certain corporate governance requirements. We currently do not intend to rely on the “controlled company” exemption, but
may do so in the future. Accordingly, if we choose to do so, you will not have the same protections afforded to shareholders of companies
that are subject to all of the Nasdaq corporate governance requirements.

16

Item
1A. Risk Factors.

As
a smaller reporting company under Rule 12b-2 of the Exchange Act, we are not required to include risk factors in this Report. However,
the following is a partial list of material risks, uncertainties and other factors that could have a material effect on us and our operations:

    ●
    we are a blank check company and an early-stage company with no revenue or basis to evaluate our ability to select a suitable business target;

    ●
    we may
    not be able to select an appropriate target business or businesses and complete our initial Business Combination within the Combination
    Period; 

    ●
    our expectations
    around the performance of a prospective target business or businesses may not be realized; 

    ●
    we may
    not be successful in retaining or recruiting required officers, key employees or directors following our initial Business Combination;

    ●
    our officers and directors may have difficulty allocating their time between our Company and other businesses and may potentially have conflicts of interest with our business or in approving our initial Business Combination;

    ●
    we may not be able to obtain additional financing to complete our initial Business Combination or reduce the number of Public Shareholders requesting redemption;

    ●
    we may issue our Ordinary Shares to investors in connection with our