Lionheart Holdings to pursue Venezuela oil & gas deal; eyes $2.25B equity facility

Lionheart Holdings announced its strategic focus on a potential business combination within Venezuela's upstream oil and gas sector, specifically targeting brownfield redevelopment of mature producing fields. To support this strategy and future capital needs, the company is negotiating a non-binding term sheet for a committed equity facility. This facility could provide the right to raise up to $2.25 billion over a 24-month period, with proceeds intended for oil asset acquisition, working capital, and general corporate purposes. Additionally, shareholders will vote on June 15, 2026, to approve an extension for the company to complete an initial business combination through March 20, 2027.