Key Takeaways
- Iran schedules state funeral for late Supreme Leader Ali Khamenei to begin July 4 in Tehran, with burial set for July 9 in Mashhad; the event follows his death in February and has been delayed due to security and religious considerations.
- Lionheart Capital signs a non-binding agreement to merge its SPAC, Lionheart Holdings (CUB), with Keo Energy in a deal valuing the Venezuelan oil firm at approximately $1 billion.
- Israeli Defense Forces (IDF) issue urgent evacuation orders for 20 villages in southern Lebanon, including Ghazaniyeh and Zarariyeh, citing Hezbollah ceasefire violations and imminent military action.
- Israeli airstrikes hit Siddiqin and other areas in the Tyre District, resulting in at least one reported fatality as regional hostilities intensify despite a fragile truce.
Iran Announces Funeral Dates for Late Supreme Leader
The Iranian government has officially scheduled the state funeral for the late Supreme Leader Ayatollah Ali Khamenei, with ceremonies beginning July 4 in Tehran. According to state media, the burial is planned for July 9 at the Imam Reza Shrine in Mashhad, one of the holiest sites in Shia Islam.
Khamenei was killed in February 2026 during a series of Israeli and U.S. strikes, ending his 37-year reign. The funeral, which has been postponed for months due to active military hostilities and logistical challenges, is expected to draw as many as 20 million mourners. Authorities have declared a period of national mourning to coincide with the processions, which will also pass through the city of Qom.
Lionheart Capital Pursues $1 Billion Venezuelan Oil Listing
Miami-based investment firm Lionheart Capital is moving to list a Venezuelan oil producer on the Nasdaq through a merger with its blank-check vehicle, Lionheart Holdings (CUB). The deal with Keo Energy aims for a valuation of roughly $1 billion, potentially making it the first Venezuelan oil entity to list on a major U.S. exchange in decades.
Lionheart Holdings (CUB), which raised $230 million in its 2024 IPO, is reportedly negotiating an equity facility to raise up to $2.25 billion over the next 24 months to revitalize Venezuelan upstream assets. The transaction remains subject to strict regulatory approval from both Caracas and Washington (OFAC) due to ongoing sanctions. Shareholders are scheduled to vote on a merger deadline extension next week.
Escalating Conflict in Southern Lebanon
The Israeli army issued a fresh wave of evacuation warnings on Saturday, ordering residents of 20 towns and villages in southern Lebanon to move north of the Zahrani River immediately. The warnings targeted locations including Ghazaniyeh, Zarariyeh, Kothriyeh al-Riz, and Sa'ir al-Gharbiyeh, with the IDF citing "Hezbollah's violation of the ceasefire agreement" as the catalyst for forceful military action.
Following the warnings, an Israeli airstrike targeted the town of Siddiqin in the Tyre District. Local reports indicate that the strikes have caused significant damage to residential and government buildings, with at least one person killed in the nearby municipality of Maarakeh. Since the expansion of the military campaign in March, Lebanese authorities report over 3,700 fatalities and the displacement of more than 1.2 million people.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.