Lionheart III Corp (LION): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about Lionheart III Corp (LION) and its role in the business world? This blog post dives into the history of Lionheart III Corp, exploring its ownership structure, its core mission, and the strategies it employed to generate revenue before its acquisition by SMX (Security Matters) in March 2023. Discover how this Special Purpose Acquisition Company (SPAC), founded in 2021, aimed to identify and merge with promising businesses, and what made it a noteworthy player in the financial landscape.

Lionheart III Corp (LION) History

Lionheart III Corp Founding Timeline

Year established

The company was originally established in 2020.

Original location

The company is based in Miami, Florida.

Founding team members

The leadership team includes:

• Ophir Sternberg (Chairman and CEO)
• Russell Santiago (Chief Financial Officer)

Initial capital/funding

As a blank check company, also known as a special purpose acquisition company (SPAC), raised capital through an initial public offering (IPO). On December 9, 2020, Lionheart III Corp (LION) completed its IPO, raising $230 million by offering 23 million units at $10.00 per unit.

Lionheart III Corp Evolution Milestones

Lionheart III Corp Transformative Moments

Several key decisions and events have significantly shaped the trajectory of the company:

• Focus on Healthcare Technology and Data Analytics: The decision to merge with MSP Recovery, a company focused on healthcare data analytics and recovery, signaled a strategic shift towards the healthcare technology sector.
• Leadership Changes and Corporate Governance: Changes in the board and executive team composition have influenced the company's strategic direction and operational focus.
• Nasdaq Listing and Compliance: The company's efforts to regain compliance with Nasdaq listing requirements reflect its commitment to maintaining its market presence and investor confidence.

To gain more insights into the investors and motivations behind Lionheart III Corp, consider reading Exploring Lionheart III Corp (LION) Investor Profile: Who’s Buying and Why?.

Lionheart III Corp (LION) Ownership Structure

Understanding Lionheart III Corp's ownership structure is key to grasping its governance and strategic direction. The company's ownership is distributed among various stakeholders, influencing its decision-making processes.

Lionheart III Corp's Current Status

Lionheart III Corp (LION) is a publicly traded company. As a publicly traded entity, its shares are available for purchase on the open market, making it subject to regulatory oversight and reporting requirements.

Lionheart III Corp's Ownership Breakdown

The ownership of Lionheart III Corp is distributed among various shareholders, including institutional investors, individual shareholders, and potentially company insiders. The following table provides an overview of the estimated ownership breakdown:

Lionheart III Corp's Leadership

The leadership team of Lionheart III Corp is responsible for the strategic direction and operational management of the company. Key members include:

• Chairman and CEO: Ophir Sternberg
• CFO: Russell Tepper

These individuals, along with other key executives, guide the company's strategies and operations. More insights into the company's goals can be found here: Mission Statement, Vision, & Core Values of Lionheart III Corp (LION).

Lionheart III Corp (LION) Mission and Values

Lionheart III Corp (LION) aims to generate long-term capital appreciation by targeting companies with strong growth potential. Their mission and values reflect a commitment to strategic investments and operational excellence.

Lionheart III Corp's Core Purpose

Official mission statement

While the official mission statement is not explicitly available in the provided search results, Lionheart III Corp's core purpose can be inferred from its investment strategy and business activities. The company focuses on:

• Acquiring controlling interests in businesses to drive operational improvements and growth.
• Implementing strategic initiatives to enhance the value of its portfolio companies.
• Seeking long-term capital appreciation through active management and value creation.

For more in-depth information, you can explore: Mission Statement, Vision, & Core Values of Lionheart III Corp (LION).

Vision statement

Similarly, a specific vision statement isn't directly found in the search results. However, based on their actions, Lionheart III Corp's vision can be understood as:

• Becoming a leading investment firm known for its ability to identify and develop high-growth companies.
• Creating substantial value for its shareholders through strategic investments and operational expertise.
• Building a diversified portfolio of successful businesses across various sectors.

Company slogan/tagline

There is no readily available information regarding Lionheart III Corp's official slogan or tagline in the provided search results. In the absence of a public slogan, it's important to focus on their demonstrated values and actions to understand what the company stands for.

Lionheart III Corp (LION) How It Works

Lionheart III Corp (LION) was a blank check company, also known as a special purpose acquisition company (SPAC), formed to merge with, acquire, or reorganize a business. However, in March 2023, Lionheart III Corp completed a business combination with Security Matters Limited (SMX), resulting in SMX listing on the Nasdaq under the ticker symbol 'SMX.' As of April 2025, Lionheart III Corp no longer exists as an independent entity; it is now a wholly-owned subsidiary of SMX.

[Former] Company's Product/Service Portfolio

As Lionheart III Corp was a SPAC, it did not have its own products or services. Its purpose was to identify and merge with an existing operating company. The company it merged with, Security Matters (SMX), offers technology focused on supply chain authentication, traceability, and transparency.

[Former] Company's Operational Framework

Lionheart III Corp operated as a vehicle to identify and acquire a business. Its operational framework involved:

• Target Identification: Seeking businesses with competitive advantages, capable management, defensible technology, strong adoption rates, and relevant expertise.
• Due Diligence: Conducting thorough research and analysis of potential target companies.
• Negotiation: Negotiating the terms of a merger or acquisition agreement.
• Shareholder Approval: Obtaining approval from Lionheart III Corp shareholders for the proposed business combination.
• Business Combination: Completing the merger or acquisition, bringing the target company public.

[Former] Company's Strategic Advantages

Lionheart III Corp's strategic advantages as a SPAC included:

• Access to Capital: Raised $125 million through its initial public offering (IPO) in November 2021 to fund an acquisition.
• Experienced Management Team: Led by CEO Ophir Sternberg, who has a track record of executing real estate transactions and working with institutional investors.
• Flexibility: Could pursue an acquisition in any business, industry, sector, or geographical location.
• Public Listing Benefits: Aimed to acquire a company that could benefit from being publicly listed, with access to capital and a higher public profile.

Lionheart III Corp (LION) How It Makes Money

Lionheart III Corp operates as a special purpose acquisition company (SPAC). It generates revenue by seeking a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company's financial success is closely tied to its ability to identify and successfully merge with a target company.

Lionheart III Corp's Revenue Breakdown

As a SPAC, Lionheart III Corp's revenue model is unique compared to traditional operating companies. Instead of selling products or services, its primary source of funds comes from its initial public offering (IPO) and subsequent financial activities related to securing a merger target.

Lionheart III Corp's Business Economics

The business economics of Lionheart III Corp are centered around the following key aspects:

• Initial Public Offering (IPO): Lionheart III Corp raises capital through an IPO, selling units consisting of shares of common stock and warrants to investors. The funds raised are placed in a trust account, where they are held until a business combination is completed.
• Deal Sourcing and Execution: The company's management team is responsible for identifying and evaluating potential merger targets. Successful execution of a merger or acquisition is critical to delivering returns to shareholders.
• Shareholder Approval: Lionheart III Corp must obtain shareholder approval for the proposed business combination. Shareholders have the option to redeem their shares if they do not approve of the transaction, which can impact the amount of capital available for the merger.
• Sponsor Economics: The sponsors of Lionheart III Corp typically receive founder shares or warrants, which provide them with a significant ownership stake in the company. Their economic incentives are aligned with completing a successful business combination.

Lionheart III Corp's Financial Performance

Evaluating Lionheart III Corp's financial performance requires considering the following factors:

• Cash Position: The amount of cash held in the trust account is a key indicator of Lionheart III Corp's financial resources. This cash is used to fund the business combination and provide working capital for the merged entity.
• Operating Expenses: Lionheart III Corp incurs operating expenses related to its search for a merger target, including legal, accounting, and due diligence costs. Managing these expenses effectively is important for preserving capital.
• Merger Valuation: The valuation of the target company and the terms of the merger agreement are critical to the financial success of the transaction. A well-negotiated deal can create significant value for shareholders.
• Post-Merger Performance: The financial performance of the merged entity is the ultimate measure of Lionheart III Corp's success. Investors will evaluate the company's revenue growth, profitability, and cash flow generation to determine the long-term value of their investment.

To gain more insights into Lionheart III Corp's core values and strategic objectives, explore Mission Statement, Vision, & Core Values of Lionheart III Corp (LION).

Lionheart III Corp (LION) Market Position & Future Outlook