# Live Oak Acquisition Corp. V (LOKVW) — merger/spac_merger [completed] Source: SEC API (secapi.ai) · situation sit_c01f369309e63a5ef5bd · retrieved 2026-08-11T15:52:44.518Z ## Overview Teamshares Inc. acquires tech-enabled small and medium-sized enterprises, targeting owner-operated businesses generating roughly USD 500,000 to USD 5 million of EBITDA, typically sold to allow founders to retire. Teamshares Inc., a Delaware corporation that acquires tech-enabled small and medium-sized enterprises, is pursuing a business combination with Live Oak Acquisition Corp. V under a Business Combination Agreement dated November 14, 2025. The transaction values Teamshares at USD 756 million and is supported by a USD 126 million common equity PIPE anchored by accounts advised by T. Rowe Price Investment Management and other institutional investors. Management expects to complete the business combination in April or May 2026, subject to SEC review and market conditions, with the company expected to begin trading in the second quarter. ## Terms - Counterparty: Live Oak Acquisition Corp. V · Deal value: $786.0M · Consideration: mixed · Price/share: $10 ## Key dates - Announced 2026-06-01 · Expected close 2026-05-31 · Completed 2026-06-25 ## Timeline - 2026-01-26 · 425 (0001213900-26-007415): 425 - Live Oak Acquisition Corp. V — *Teamshares Inc. acquires small to mid-sized businesses (typically $1–5 million in revenue, up to $5 million in operating profit) and converts them to employee ownership structures, with a focus on helping aging business owners achieve succession while enabling employees to earn equity stakes over time.* Michael Brown, co-founder and CEO of Teamshares Inc., a Delaware corporation that acquires small businesses and converts them to employee ownership, participated in a podcast interview on January 23, 2026. Teamshares is party to a Business Combination Agreement dated November 14, 2025 with Live Oak Acquisition Corp. V, a Cayman Islands exempted company. As of end of 2025, Teamshares owned 90 companies with approximately $450 million in combined revenue and $60 million in operating profit. The company plans to go public through the business combination to expand its capital access and scale its employee ownership model. https://www.sec.gov/Archives/edgar/data/2048951/0001213900-26-007415.txt - 2026-01-29 · 425 (0001213900-26-009644): 425 - Live Oak Acquisition Corp. V — *Teamshares Inc. is a Delaware corporation that operates a programmatic acquisition platform targeting small businesses with $0.5M–$5M EBITDA across diverse industries and U.S. regions, focusing on retirement sales and deploying capital efficiently through software-enabled processes and experienced management teams.* Teamshares Inc., a Delaware corporation that acquires small businesses with $0.5M–$5M EBITDA through a programmatic platform, is combining with Live Oak Acquisition Corp. V in a business combination valued at $786 million. The Business Combination Agreement was dated November 14, 2025. Live Oak raised a $75 million common equity PIPE (private investment in public equity), anchored by T. Rowe Price and oversubscribed. The transaction is expected to provide Teamshares with access to public capital markets and lower-cost debt financing to accelerate its acquisition strategy. Management, including Teamshares CEO Michael Brown and the five-person management team, committed to a four-year lockup (or until the stock reaches $25 per share, whichever is sooner) and collectively invested $1 million in the PIPE, demonstrating long-term commitment. https://www.sec.gov/Archives/edgar/data/2048951/0001213900-26-009644.txt - 2026-02-10 · 425 (0001213900-26-014301): 425 - Live Oak Acquisition Corp. V — *Teamshares Inc. acquires tech-enabled small and medium-sized enterprises, targeting owner-operated businesses generating roughly USD 500,000 to USD 5 million of EBITDA, typically sold to allow founders to retire.* Teamshares Inc., a Delaware corporation that acquires tech-enabled small and medium-sized enterprises, is pursuing a business combination with Live Oak Acquisition Corp. V under a Business Combination Agreement dated November 14, 2025. The transaction values Teamshares at USD 756 million and is supported by a USD 126 million common equity PIPE anchored by accounts advised by T. Rowe Price Investment Management and other institutional investors. Management expects to complete the business combination in April or May 2026, subject to SEC review and market conditions, with the company expected to begin trading in the second quarter. https://www.sec.gov/Archives/edgar/data/2048951/0001213900-26-014301.txt - 2026-06-01 · 425 (0001213900-26-063580): 425 - Live Oak Acquisition Corp. V — *Live Oak Acquisition Corp. V is a Cayman Islands exempted company and special purpose acquisition company (SPAC) seeking to complete an initial business combination with Teamshares Inc., a Delaware corporation.* On June 1, 2026, Live Oak Acquisition Corp. V and HB Strategies LLC entered into a Forward Purchase Agreement for an OTC Prepaid Share Forward Transaction in connection with Live Oak's proposed business combination with Teamshares Inc. Under the agreement, Live Oak will pay HB Strategies a prepayment amount equal to the number of subject shares (up to a maximum of 4,000,000 shares) multiplied by the Initial Price, which is the redemption price per share determined five exchange business days prior to the business combination closing date. The prepayment will be made from Live Oak's trust account after satisfaction of required redemption payments. HB Strategies has agreed to waive redemption rights with respect to the subject shares and may terminate the forward transaction in whole or in part during a 24-month term following the business combination closing, with the Reset Price subject to downward adjustment based on the lowest daily VWAP over the preceding 10 trading days or upon dilutive offerings. https://www.sec.gov/Archives/edgar/data/2048951/0001213900-26-063580.txt - 2026-06-02 · 425 (0001213900-26-063830): 425 - Live Oak Acquisition Corp. V — *Live Oak Acquisition Corp. V is a Cayman Islands exempted company and special purpose acquisition company (SPAC) engaged in a proposed business combination with Teamshares Inc., a Delaware corporation.* On June 1, 2026, Live Oak Acquisition Corp. V and a fund sub-advised by JBA Asset Management LLC (HB Strategies LLC) entered into a Forward Purchase Agreement for an OTC Prepaid Share Forward Transaction in connection with Live Oak's proposed business combination with Teamshares Inc. Upon consummation of the business combination, Live Oak will pay the seller a prepayment amount equal to the number of subject shares (up to a maximum of 4,000,000 shares) multiplied by the Initial Price, which is the redemption price per share determined as of five exchange business days prior to the business combination closing date. The seller has agreed to waive redemption rights with respect to the subject shares and will not have any claim against Live Oak's trust account. The forward purchase transaction is intended to reduce the number of public shares that may be redeemed in connection with the business combination closing. https://www.sec.gov/Archives/edgar/data/2048951/0001213900-26-063830.txt - 2026-06-25 · 8-K (0001193125-26-283064): 8-K 8-K https://www.sec.gov/Archives/edgar/data/2048951/000119312526283064/d148000d8k.htm ## Citations - 0001213900-26-007415 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026007415 - 0001213900-26-009644 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026009644 - 0001213900-26-014301 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026014301 - 0001213900-26-063580 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026063580 - 0001213900-26-063830 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026063830 - 0001193125-26-283064 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526283064