MergerMay 13, 2026, 04:46 PM
Live Oak Acquisition Corp. V Amends Merger Agreement with Teamshares
AI Summary
Live Oak Acquisition Corp. V and Teamshares Inc. entered into a Second Amendment to their Merger Agreement on May 13, 2026. This amendment incorporates Teamshares' offer to certain preferred stockholders to elect "liquidation preference" treatment, allowing their shares to convert into common stock based on original issue price plus dividends, instead of the standard Company Preferred Stock Exchange. The amendment also clarifies the mechanics of these conversions and adds associated definitions, without materially altering the economic terms or overall structure of the Business Combination.
Key Highlights
- Incorporates Teamshares' offer for "liquidation preference" treatment for certain preferred stockholders.
- Clarifies that Liquidation Preference Elections will be effectuated before the Company Preferred Stock Exchange.
- Adds new terms and definitions related to Liquidation Preference Elections to the agreement.
- Corrects scrivener's errors in Section 6.3(e) of the Original Merger Agreement.
- Amends definitions of "Liquidation Preference Election" and "Liquidation Preference Electing Holders".
- Inserts definitions for "Eligible Preferred Holders", "Eligible Preferred Shares", and "Election and Waiver Agreement".
Price Impact
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