LiveOne closes $16.78M convertible debt at 11.75%, conversion price $2.10; pays off $2.57M bank loan

LiveOne, Inc.

Closed $16.78M senior secured convertible notes; potential additional $11M subject to performance conditions.
Notes bear 11.75% interest, mature May 2028, convertible at $2.10/share; initial max shares 7.86M.
Used proceeds to pay off $2.57M East West Bank loan and extinguish short-term payables.
CEO cites strengthened balance sheet; plans to scale B2B partnerships (up to 75), convert Tesla subscribers, pursue M&A.
ARPU increased from $3 to $5 since Jan 1, 2025; subscriber base at 1.5M plus ad-supported users.

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