Lionheart targets Venezuela oil acquisition, negotiates $2.25B equity facility; vote June 15

Filed June 3, 2026 · Period ending June 3, 2026 · ~1 min read

Key Changes

• high

  SPAC pivots to acquire Venezuela upstream oil/gas assets, specifically mature producing fields. Strategy exposes investors to one of world's largest hydrocarbon bases but carries significant sanctions and geopolitical risks.

  Item 8.01 view on EDGAR →
• high

  Negotiating non-binding $2.25B equity facility over 24 months to fund acquisition and working capital. Facility is NOT committed cash—actual availability depends on market conditions, trading volume, and share price.

  Item 8.01 view on EDGAR →
• high

  Shareholder vote June 15 on extending business combination deadline to March 2027. Extension required to pursue Venezuela strategy; failure to approve would force liquidation or alternative timeline.

  Item 8.01 view on EDGAR →