The updated presentation reinforces the deal thesis but the going concern disclosure is a material risk that could weigh on LOKV/LOKVU units ahead of the shareholder vote. Monitor redemption levels and any updates on refinancing of the i80 Facility (due Dec 2026). The S-4 effectiveness and proxy mailing are the next catalysts.
Price Chart
Executive Summary
Live Oak Acquisition Corp. V filed an amended 8-K to replace the Teamshares investor presentation with an updated version, which was used at the March 31, 2026 Investor Day. The presentation reiterates the $525 million pre-money equity valuation, $825 million pro forma enterprise value, and $126.5 million PIPE, while projecting Pro Forma Adjusted EBITDA growth from $19 million in 2025 to $100 million in 2027. The filing also discloses that Teamshares' auditor has issued a going concern opinion, citing substantial doubt about its ability to continue as a going concern for one year, dependent on refinancing or extending its i80 Facility (due December 5, 2026) and HBC Facility.
Key Financial Metrics
Key Facts
- Teamshares projects Pro Forma Adjusted EBITDA of $19M (2025A), $60M (2026E), and $100M (2027E), representing 129% CAGR from 2025-2027.
- Pro forma enterprise value of $825M based on $525M pre-money equity valuation and $425M in aggregate purchase consideration for 2026-2027.
- $126.5M common equity PIPE at $9.20/share, anchored by a $1.8T AUM long-only investor and a $20B+ fundamental hedge fund.
- Teamshares' independent auditor issued a going concern opinion for the years ended December 31, 2025 and 2024, citing substantial doubt about the company's ability to continue as a going concern for one year.
- Teamshares must repay or refinance its i80 Facility (due December 5, 2026) and HBC Facility; failure to do so may impair its ability to execute business strategies.
- Teamshares reported $472M in 2025 revenue, 92 operating companies, and a 4.9x historical average EBITDA purchase multiple.
- Existing shareholders will hold 55% at close; Teamshares executives have a 4-year or $25/share lock-up.
- Anticipated closing in Q2 2026; S-4 registration statement filed April 3, 2026.
Financial Impact
Projected Pro Forma Adj. EBITDA growth from $19M (2025) to $100M (2027); $126.5M PIPE at $9.20/share; $525M pre-money equity valuation; $825M pro forma enterprise value; going concern risk tied to $472M revenue base
Risk Factors
- Going concern opinion raises substantial doubt about Teamshares' ability to continue for one year without successful refinancing of i80 and HBC facilities.
- High redemption rate by Live Oak public shareholders could deplete trust account proceeds, reducing capital available post-close.
- Projected EBITDA growth to $100M by 2027 is highly dependent on executing 85 acquisitions over two years, which may not materialize.
- Teamshares has a history of losses and negative cash flows from operations; no guarantee of achieving profitability.
- Shareholder dilution from the business combination and related financings.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001213900-26-048639 |
| Document: ea0287952-8ka1425_live5.htm | 0001213900-26-048639 |
| Document: 0001213900-26-048639-index-headers.html | 0001213900-26-048639 |
| Document: 0001213900-26-048639-index.html | 0001213900-26-048639 |
| Document: 0001213900-26-048639.txt | 0001213900-26-048639 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 10, 2026 19w ago | 425 | $17.48 | awaiting T+20 | — | — |
Jun 9, 2026 19w ago | DEFA14A | $17.48 | awaiting T+20 | — | — |
Jun 9, 2026 19w ago | 425 | $17.48 | awaiting T+20 | — | — |
Jun 9, 2026 19w ago | 8-K | $17.48 | awaiting T+20 | — | — |
Jun 9, 2026 19w ago | 8-K | $17.90 | awaiting T+20 | — | — |
Jun 2, 2026 20w ago | DEFA14A | $13.52 | awaiting T+20 | — | — |
Jun 2, 2026 20w ago | 425 | $13.52 | awaiting T+20 | — | — |
Jun 1, 2026 21w ago | DEFA14A | $13.52 | awaiting T+20 | — | — |
Jun 1, 2026 21w ago | 425 | $13.52 | awaiting T+20 | — | — |
Jun 1, 2026 21w ago | 8-K | $13.52 | awaiting T+20 | — | — |
US Market Status
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