Live Oak SPAC and Teamshares amend merger agreement; lock-up reduced to 6 months

Live Oak Acquisition Corp. V

First Amendment adjusts Merger Consideration to $525M plus Interim Period Financing amount.
Up to 1,150,000 Incentive Founder Shares released from lock-up to incentivize financing commitments.
Post-Closing lock-up on Founder Shares reduced from 1 year to 6 months.
Incentive Plan shares increased from 5% to 7% of post-Closing SPAC common stock; evergreen provision added.
Employee stock purchase plan authorized with 2% of post-Closing shares; management employment agreements required to close.

item 1.01item 9.01

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