Lionheart Holdings signs LOI to merge with KEO Energy at $400 million valuation

Lionheart Holdings Class A

Lionheart Holdings Class A

CUB

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  • Lionheart Holdings signed a non-binding LOI on July 15 for a business combination with KEO Energy, targeting a Nasdaq Capital Market listing.
  • LOI sets a preliminary indicative pre-money enterprise value of USD 400 million for KEO Energy, subject to diligence and Venezuelan fiscal terms.
  • KEO Energy’s main asset is an indirect stake in a joint venture tied to Venezuela’s PetroUrdaneta Project.
  • Definitive agreement is targeted for Aug. 17, 2026, with closing conditions including audited financials and shareholder votes.
  • Post-close board expected to have six directors; Paolo Fidanza slated as executive chairman, with Lionheart naming a vice chairman.


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