Live Oak Acquisition Corp. V Annual Report - How They Did This Year

I’m putting together a guide to help you understand how Live Oak Acquisition Corp. V performed this year. Think of this as a plain-English breakdown of what’s happening under the hood, without the confusing Wall Street jargon.

1. What does this company do?

Live Oak Acquisition Corp. V is a "blank check" company. It was formed to raise money through an IPO on March 3, 2022, where it raised $200 million. Its sole purpose is to find and merge with a private company to take it public.

2. The Big News: They found a partner!

The company has officially entered into a merger agreement with Teamshares, a financial technology company that helps small businesses become employee-owned.

This is a major milestone. They are no longer just a "shell" company looking for a deal; they are now finalizing this business combination. If the deal closes, Live Oak V will become the public face of Teamshares, and the new company expects to list on the NYSE under a new ticker symbol.

3. Financial performance

Because they are in a transition phase, they aren't selling products yet. Their financial activity focuses on merger costs and managing the money in their trust account. As of the latest report, the trust held about $205.4 million, earning interest to cover operating costs. They spent about $1.2 million this year on legal, accounting, and advisory fees for the merger.

4. Major wins and challenges

• The Win: Signing the merger agreement with Teamshares is a huge step. It moves the company from "searching" to "executing." The deal provides Teamshares with the capital it needs to grow its employee-ownership platform.
• The Challenge: The deal isn't done yet. It still requires shareholder approval and SEC clearance. There are also inherent risks in merging with a specific target; if Teamshares’ growth slows or the integration proves difficult, it could impact the value of your investment.

5. Financial health and the "Clock"

The company has until March 3, 2027, to complete this merger. By signing the agreement in 2026, they have secured their path forward. They also owe about $7 million in deferred fees to the banks that helped with their IPO, which are payable only once the merger successfully closes.

6. Key risks

• Merger Risk: If the deal falls through, the company may have to liquidate, meaning shareholders would receive their share of the trust (approximately $10.27 per share).
• Performance Risk: Once the merger is complete, your investment will be tied to the performance of Teamshares. As a growth-stage fintech company, they face significant competition and the challenge of scaling their business model.
• Market Volatility: The stock price will react to news about the deal. Investors should watch for "redemptions," where shareholders choose to take their cash back instead of holding shares in the new company.

7. Future outlook

The team is now in "closing mode," focused on finalizing the Teamshares merger. Once that happens, the company will stop being a SPAC and start operating as the new, combined business. Management expects to use the $200 million in the trust to fuel the growth of the Teamshares platform.

---

Note: This is a pivotal time. Keep an eye out for news regarding the official closing date of the Teamshares merger, as that will be the next major chapter in this story. Before making any investment decisions, review the official proxy statement filed with the SEC, as it contains the full details of the merger terms and risks.