Traders should monitor the redemption level — the trust account holds ~$10.48/share which sets a floor on public shares. High redemptions could threaten the $120M minimum cash condition. The stock last traded at $10.48 on May 15, 2026, in line with trust value. Watch for any additional PIPE or non-redemption agreements ahead of the June 16 vote.
Price Chart
Executive Summary
Live Oak Acquisition Corp. V is soliciting shareholder approval for its business combination with Teamshares Inc., a programmatic acquirer of small businesses. The definitive proxy schedules a June 16, 2026 extraordinary general meeting where shareholders will vote on 15 proposals, including the merger, domestication to Delaware, adoption of new charter/bylaws, equity incentive plans, director elections, and insider letter amendments. The transaction values Teamshares at $525 million in stock consideration plus potential earnout shares, supported by a $126.5 million PIPE at $9.20/share from investors including T. Rowe Price, with no fairness opinion obtained by the board.
Key Financial Metrics
Key Facts
- Extraordinary general meeting scheduled for June 16, 2026 to approve business combination with Teamshares
- Merger consideration of $525.0 million in Combined Company common stock, plus potential earnout shares up to 6,000,000 shares at $12-$20 price targets
- Initial PIPE Investment of ~$126.5 million (13,750,000 shares at $9.20/share) from T. Rowe Price and other institutional investors
- Shareholder redemptions available at ~$10.48 per share (based on trust account balance as of March 31, 2026)
- Live Oak Board unanimously recommends FOR all proposals; no fairness opinion obtained
- Minimum cash condition of $120.0 million required to close
- Outside date extended to July 15, 2026; 5,750,000 founder shares subject to 6-month lock-up post-closing
- No dissenting directors reported; all 15 proposals recommended by unanimous board
- Appraisal rights available under Delaware law post-domestication
- Simple majority vote required for most proposals; Domestication Proposal requires 2/3 of Class B shares
Financial Impact
Base equity value of $525.0 million for Teamshares, plus up to 6,000,000 earnout shares (valued at $10/share = $60M), plus $126.5M PIPE investment. Redemption price ~$10.48/share based on ~$241.1M trust account.
Risk Factors
- Redemption levels could jeopardize minimum cash condition ($120M)
- No fairness opinion obtained — board reliance on market pricing and internal analysis
- Sponsor paid $0.004/share for founder shares vs $10.00 public IPO price, creating misaligned incentives
- Earnout shares (6M) and founder restricted shares (up to 1.15M) create overhang uncertainty
- Regulatory approvals (HSR) and Nasdaq listing requirements still outstanding
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFM14A Filing (Primary) | 0001193125-26-240707 |
| Document: d82890ddefm14a.htm | 0001193125-26-240707 |
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 21w ago | DEFA14A | $13.52 | awaiting T+20 | — | — |
Jun 2, 2026 21w 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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