Teamshares swaps $150M legacy facility for $130M term loan at SOFR+9.50%, cutting interest ~$5M/yr

Live Oak Acquisition Corp. V

$130.0M senior secured term loan arranged by Sound Point Capital affiliates matures 4Q 2030; SOFR (3.00% floor) + 9.50%, vs legacy SOFR+11.00%.
Quarterly amortization starts Dec 31, 2026 at $6.25M, stepping to $7.50M, $8.75M and $10.0M in successive years; voluntary prepayment allowed without penalty.
Legacy Westmount/i80 Group facility repaid in full for ~$152.8M ($150.0M principal incl. paid-in-kind interest + $2.8M accrued interest), ahead of Dec 5, 2026 maturity.
Annual interest expense expected to drop ~$5M at current SOFR; early repayment of $17M in mezzanine debt expected to save another ~$3M per year.
Credit Agreement bars dividends, buybacks and distributions without agent consent; CEO Michael Brown cites $100M 2027 Pro Forma Adjusted EBITDA forecast and $40M 2026 acquisition plan.

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