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Lionheart Holdings (CUB+0.20%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that Lionheart Holdings is a blank check company formed for the purpose of effecting a business combination. The company has not yet selected a target for its initial business combination.
Lionheart Holdings completed its Initial Public Offering on June 20, 2024, raising $230,000,000 through the sale of 23,000,000 units, each consisting of one Class A ordinary share and one-half of one redeemable warrant.
The company has placed the proceeds from the IPO into a trust account, which as of December 31, 2024, held $236,335,105, including interest earned.
Lionheart Holdings has until June 20, 2026, to complete a business combination, failing which it will redeem the public shares and dissolve.
The company reported net income of $5,839,656 for the period from inception to December 31, 2024, primarily from interest income on the trust account.
Lionheart Holdings' management consists of Ophir Sternberg as Chairman, President, and CEO; Paul Rapisarda as CFO; and Faquiry Diaz Cala as COO.
The filing outlines potential risks, including the inability to complete a business combination within the specified timeframe, competition for acquisition targets, and the impact of geopolitical events on market conditions.
Lionheart Holdings is subject to various reporting obligations, including filing annual, quarterly, and current reports with the SEC, and is considered an emerging growth company under the JOBS Act.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lionheart Holdings annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.