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

Issuer:     Live Oak Acquisition Corp. V (LOKV)
CIK:        0002048951
Form:       8-K
Filed at:   2026-10-19T12:16:41+00:00
Accession:  0002048951-26-000030
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 3.03, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2048951/000204895126000030/0002048951-26-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2048951/000204895126000030/tms-20261016.htm
  HTML page:      https://secwatch.observer/filing/0002048951-26-000030

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