Lionheart Holdings(US:CUB)2025-05-13 12:30Financial Performance - As of March 31, 2025, the company reported net income of $2,198,698, primarily from dividend income on marketable securities held in the Trust Account amounting to $2,447,259[107]. - For the three months ended March 31, 2025, cash used in operating activities was $193,339, with net income impacted by dividend earnings[111]. - The company incurred $45,000 in administrative service costs for the three months ended March 31, 2025, under the Administrative Services Agreement[119]. Marketable Securities - The company had marketable securities in the Trust Account totaling $238,782,364, which includes $8,782,364 of interest income[114]. - As of March 31, 2025, the company had cash of $697,678 available for operational and due diligence activities[115]. Initial Public Offering - The Initial Public Offering was completed on June 20, 2024, raising $230,000,000 from the sale of 23,000,000 Units at $10.00 per Unit, including the full exercise of the Over-Allotment Option[110]. - The Deferred Discount for underwriters of the Initial Public Offering amounts to $9,800,000, payable upon completion of the initial Business Combination[121]. - The company has a loan agreement with the Sponsor for up to $300,000 to cover Initial Public Offering expenses, which was repaid at the closing of the IPO[109]. Financial Obligations - The company has no long-term debt or capital lease obligations as of the reporting date[118]. - The company may need to raise additional funds if the costs of identifying a target business exceed current estimates[117].