Lionheart - proceeds may be used for acquisition of oil assets in Venezuela and corporate purposes - SEC filing

Lionheart Capital, a NASDAQ-listed special purpose acquisition company (SPAC), is reportedly in discussions to acquire oil fields in Venezuela, according to sources cited by Bloomberg report on acquisition. The firm is seeking to raise up to $2.25 billion through a SPAC to fund the acquisition and related capital expenditures. Of this amount, $1.5 billion has reportedly been secured from Clear Street LLC, a Wall Street brokerage, with the remainder expected from Lionheart's own funds and bank financing.

The proposed acquisition, valued between $150 million and $400 million, would require regulatory approvals from both the Venezuelan and U.S. governments. This move aligns with broader investor interest in Venezuela’s energy sector as the country moves to reduce state control and attract private investment.

The transaction, if finalized, would represent a significant step in Lionheart’s strategy to deploy capital toward energy assets and corporate initiatives, as outlined in its SEC filings.