MergerJun 22, 2026, 06:07 AM
Live Oak V Shareholders Approve Teamshares Business Combination
AI Summary
Live Oak Acquisition Corp. V shareholders approved the business combination with Teamshares, along with all related proposals, at an extraordinary general meeting on June 16, 2026. The combined entity will be named "Teamshares Inc." and is expected to trade on Nasdaq under "TMS" and "TMSWW". However, holders of 18,438,659 Class A Ordinary Shares exercised their redemption rights, leaving approximately $48.1 million in the Trust Account. The transaction is anticipated to close in the coming week.
Key Highlights
- Shareholders approved the Business Combination Proposal with 20,282,626 votes For.
- Shareholders approved the Domestication Proposal and Charter Proposal.
- Shareholders approved Organizational Documents Proposals (4-9), Incentive Plan, and Employee Stock Purchase Plan Proposals.
- Shareholders approved the Nasdaq Proposal and Director Election Proposal.
- 18,438,659 Class A Ordinary Shares were redeemed, leaving approximately $48.1 million in the Trust Account.
- The combined entity will be named "Teamshares Inc." and trade as "TMS" and "TMSWW" on Nasdaq.
- The business combination is expected to close in the coming week.
Price Impact
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