secwatch.observer — SEC 8-K summary
======================================

Issuer:     LIVE VENTURES Inc (LIVE)
CIK:        0001045742
Form:       8-K
Filed at:   2025-03-03T23:59:59+00:00
Accession:  0001628280-25-009472
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Live Ventures cuts acquisition note to $15M from $34M; Kellogg goes part-time
-----------------------------------------------------------------------------

- Aggregate principal of the Note reduced by $19M to $15M, treated as purchase price adjustment.
- If Event of Default occurs, SJK Trust can revoke reduction, adding $19M back with interest from Jan 1, 2025.
- Stephen Kellogg's title changed to Founder/VP; employment part-time at $300k/year; resigned from other offices.
- Kellogg may earn $5M performance bonus if Buyer achieves ≥$10M adjusted EBITDA in any 3 fiscal years from FY2025-2030.
- Employment agreement term ends Feb 25, 2028, extendable by Kellogg up to 2 yrs if Note not paid in full.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1045742/000162828025009472/0001628280-25-009472-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1045742/000162828025009472/live-20250225.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-009472

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer