M&A
confidence high
sentiment neutral
materiality 0.35
Live Oak and Teamshares amend merger agreement to allow preferred stock liquidation preference election
Live Oak Acquisition Corp. V
- Second Amendment provides eligible preferred holders option to elect liquidation preference conversion instead of standard exchange.
- Amendment details pre-Closing conversion of Eligible Preferred Shares to common at greater of original issue price or per share price.
- Eligible series include Series C-1, C-2, D-1, D-2, D-NV, E, E-NV Preferred Stock.
- Other terms unchanged; overall economic terms and structure of Business Combination not materially altered.
- Holders making liquidation preference election forfeit Earnout Shares; Election and Waiver Agreement defined.