Lionheart Holdings(US:CUB)2025-08-12 20:14Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $2,247,708, driven by interest income of $2,477,873, with operating costs of $230,165 [112]. - For the six months ended June 30, 2025, cash used in operating activities was $321,655, with a net income of $4,446,406 influenced by interest earned on marketable securities of $4,925,132 [117]. Marketable Securities - As of June 30, 2025, the company had marketable securities held in the Trust Account amounting to $241,260,237, which includes $11,260,237 of interest income [119]. Initial Public Offering - The company completed its Initial Public Offering 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 [116]. Administrative and Legal Costs - The company incurred $45,000 and $90,000 in administrative service costs for the three and six months ended June 30, 2025, respectively [124]. - The company incurred an aggregate of $250,000 in legal fees as of June 30, 2025, related to corporate legal matters [129]. Business Combination Plans - The company has until June 22, 2026, to consummate a Business Combination, after which a mandatory liquidation may occur if not completed [122]. - The company expects to continue incurring significant costs in pursuit of its acquisition plans, with no assurance of successful completion of a Business Combination [107]. - The company may seek to extend the Combination Period by amending its Articles, which would require Public Shareholder approval [109]. Cash Position - The company had cash of $569,362 as of June 30, 2025, intended for identifying and evaluating target businesses [120].