Teamshares To Go Public Via SPAC Merger Deal With Live Oak

Special Purpose Acquisition Company (SPAC) Live Oak Acquisition Corp. V (NASDAQ:LOKV) connected Friday disclosed a merger statement with Teamshares Inc.

A SPAC is simply a Special Purpose Acquisition Company, besides called a “blank cheque company,” which is simply a institution without its ain concern operations that raises wealth done an archetypal nationalist offering (IPO) to get oregon merge with an existing backstage company.

It provides a faster alternate for backstage companies to go publically traded by avoiding a traditional, lengthy IPO process, arsenic the SPAC handles the nationalist listing itself

The merger values the combined institution astatine a pro forma endeavor worth of $746 million (pre-money equity worth of $525 million).

Teamshares programmatically acquires companies with $0.5 to $5 cardinal of EBITDA from retiring owners, integrates them with the Teamshares platform, and helps employees gain institution stock.

Teamshares' acquisition-based concern exemplary aims to thrust predictable, repeatable maturation and standard done fiscal technology.

As per the deal, the parties besides executed subscription commitments for $126 cardinal successful common-equity PIPE backing from T. Rowe Price Investment Management–advised accounts and different organization backers.

In addition, the woody could make up to $237 cardinal successful gross proceeds from Live Oak V's spot account, assuming nary shareholder redemptions and earlier deducting deal-related expenses.

The merger is expected to make up to $333 cardinal successful nett proceeds by combining a $126 cardinal PIPE concern successful communal banal with the currency successful Live Oak V's trust, assuming nary redemptions and aft transaction expenses.

The institution volition usage each superior proceeds to get caller operating subsidiaries and accelerate compounding growth.

The transaction is expected to reason successful the 2nd 4th of 2026.

Post closure, the combined institution is expected to run arsenic "Teamshares Inc." and beryllium listed connected Nasdaq under the ticker "TMS."

Richard Hendrix, Chairman and CEO of LOKV and co-founder of Live Oak Merchant Partners, said, "The Teamshares concern exemplary allows them to reinvest escaped currency travel from their operating subsidiaries into attractively priced further acquisitions, providing a semipermanent compounding pathway that we judge volition make tremendous shareholder value."

Co-founder & CEO Michael Brown added, "With household succession becoming rarer and not capable buyers, retiring owners look a 70% failure rate erstwhile trying to sell. Teamshares is simply a scalable level that helps owners retire, businesses grow, and employees gain stock. We purpose to beryllium the imperishable location for thousands of high-quality businesses going done ownership transitions.,"