Lionheart Holdings Unit

Lionheart Holdings Unit (CUB), a blank check company, reported net income of $9.0M for FY 2025 ended December 31, 2025, driven entirely by $9.8M in interest earned on cash and marketable securities held in the Trust Account, offsetting a $875K operating and formation loss. Total assets stood at $246.5M, primarily comprising $246.2M in the Trust Account, with minimal current assets of $301K including $231K cash. Liabilities totaled $10.1M, including $9.8M deferred fee payable and $250K deferred legal fees, resulting in a $9.8M shareholders' deficit. Cash flows showed $585K used in operating activities, $230.0M used in investing for Trust Account deposits, and $75K net used in financing. Compared to the prior period (inception to December 31, 2024), net income increased from approximately $5.8M (per MD&A), reflecting higher interest income of $9.8M versus $6.3M, amid ongoing search for a business combination by June 20, 2026. Low cash outside Trust ($231K) raises going concern doubts, dependent on completing a merger.

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