Live Ventures Enters Cooperation Agreement with LL Flooring, Withdraws Director Nominations

LIVE VENTURES Inc

Live Ventures and Isaac Capital Group irrevocably withdrew their notice to nominate three individuals to LL Flooring's board at the 2024 annual meeting.
If LL Flooring has not entered into a definitive acquisition agreement with Live Parties by a specified date, LL Flooring will add one Class I director selected by Live Parties.
Live Parties agreed to customary standstill restrictions, voting commitments, and mutual non-disparagement through the Cooperation Period.
The Cooperation Period extends until 30 calendar days prior to the nomination deadline for LL Flooring's 2026 annual meeting if the new director is elected.
Live Parties control approximately 49.0% of Live Ventures' outstanding voting power, with Jon Isaac as CEO and President.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LIVE VENTURES Inc entered into Cooperation Agreement with Isaac Capital Group LLC, LL Flooring Holdings, Inc (effective 2024-04-29).

Action: entry
Counterparty: Isaac Capital Group LLC, LL Flooring Holdings, Inc
Effective: 2024-04-29

Exact text from the filing

On April 29, 2024, Live Ventures Incorporated (the “Company”) entered into a cooperation agreement (the “Cooperation Agreement”) with Isaac Capital Group LLC, a Delaware limited liability company (“ICG,” and together with the Company, the “Live Parties”), and LL Flooring Holdings, Inc, a Delaware corporation (“LL Flooring”).

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Source: SEC EDGAR

accession 0001628280-24-019278

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