Corporate ActionJul 28, 2026, 04:52 PM
LiveOne Issues 70,000 Shares to Music Story for Fees, Extends Agreement
AI Summary
LiveOne, Inc. entered into a Shares Issuance Agreement with Music Story SAS and its subsidiary Slacker, Inc. to issue 70,000 shares of common stock at a deemed price of $7.50 per share. These shares will serve as payment for outstanding fees and prepayment for a portion of future fees under an extended Metadata license and service agreement, now valid until February 24, 2028. LiveOne will not receive any cash proceeds from this issuance, and Music Story's share sales are subject to volume limitations.
Key Highlights
- LiveOne to issue 70,000 shares of common stock to Music Story SAS.
- Shares issued at a deemed price of $7.50 per share.
- Metadata license and service agreement extended through February 24, 2028.
- Outstanding fees equal $186,266 as of the agreement date.
- Total fees to be paid by the one-year anniversary date are at least $373,034.
- Music Story's net sale proceeds of shares will offset fees due under the agreement.
- Music Story agreed not to sell more than 3.5% of average daily trading volume.
- LiveOne will not receive any cash proceeds from the offering of the shares.
Price Impact
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