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Get filing alertsLive Oak locks up 276,646 shares ahead of June 16 Teamshares merger vote
Filed June 9, 2026 · Period ending June 5, 2026 · ~1 min read
Key Changes
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Live Oak secured agreements preventing redemption of 276,646 shares at its June 16 shareholder meeting to vote on the Teamshares merger, helping ensure sufficient capital remains post-transaction.
Item 1.01 verify on EDGAR → -
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In exchange for forgoing redemption rights, participating shareholders will receive 37,171 founder shares from the Sponsor at closing, effectively compensating them for the lock-up.
Item 1.01 verify on EDGAR → -
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Extraordinary shareholder meeting scheduled for June 16, 2026 to vote on the proposed business combination with Teamshares originally announced November 14, 2025.
Item 1.01 verify on EDGAR →
Summary
Live Oak Acquisition Corp. V is taking steps to shore up support for its pending merger with Teamshares ahead of a critical June 16 shareholder vote. The SPAC entered non-redemption agreements with third-party investors covering 276,646 Class A shares, preventing those holders from exercising redemption rights at the upcoming meeting.
In return, the Sponsor will transfer 37,171 founder shares to these investors at closing. For retail holders, this signals the company is working to minimize cash leakage from redemptions—a common challenge in SPAC mergers where shareholders can pull their money out. The agreements suggest management is concerned about having enough capital to complete the deal. Watch the June 16 meeting results closely: high redemption rates among non-locked shareholders could still jeopardize the transaction or force renegotiation of terms with Teamshares.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Live Oak Acquisition Corp. V, a Cayman Islands exempted company (“Live Oak”), which is a party to the previously-disclosed Agreement and Plan of Merger, dated as of November 14, 2025 (as amended, and as may be further amended or supplemented, the “Merger Agreement”) relating to Live Oak’s proposed initial business combination (“Business Combination”) with Teamshares Inc. (“Teamshares”), has entered into Non-Redemption Agreements (the “Non-Redemption Agreements”), dated as of June 5, 2026, with unaffiliated third-party shareholders of Live Oak (each, a “NRA Investor” and collectively, the “NRA Investors”) and Live Oak Sponsor V LLC, a Delaware limited liability company (the “Sponsor”) in connection with the anticipated consummation of the proposed Business Combination (the “Closing”) in accordance with the terms of the Merger Agreement.
Live Oak entered agreements on June 5, 2026 with certain shareholders to prevent them from redeeming their shares at the upcoming shareholder meeting. These agreements are designed to reduce the number of shares that could be redeemed in connection with the proposed merger with Teamshares, helping ensure sufficient capital remains in the company post-transaction.
Added in current filing · verify on EDGAR →
Pursuant to the Non-Redemption Agreements, the NRA Investors agreed not to redeem an aggregate of 276,646 Class A ordinary shares, par value $0.0001 per share (the “Class A ordinary shares”), of Live Oak (the “Non-Redeemed Shares”) at the extraordinary general meeting (the “Meeting”) of Live Oak shareholders to be held on June 16, 2026 to consider and vote on proposals related to the Business Combination. In exchange for the foregoing commitment to Live Oak to not redeem the Non-Redeemed Shares, the Sponsor has agreed to transfer to the NRA Investors, contemporaneously with the Closing, an aggregate of 37,171 Class A ordinary shares (“Founder Shares”) held by the Sponsor, provided that such NRA Investors do not exercise their respective redemption rights with respect to the Non-Redeemed Shares in connection with the Meeting.
Third-party investors agreed to lock up 276,646 shares from redemption at the June 16, 2026 shareholder meeting. In return, the Sponsor will transfer 37,171 founder shares to these investors at closing. This arrangement effectively compensates investors for forgoing their redemption rights and helps ensure the SPAC merger has sufficient cash to proceed.
Added in current filing · verify on EDGAR →
at the extraordinary general meeting (the “Meeting”) of Live Oak shareholders to be held on June 16, 2026 to consider and vote on proposals related to the Business Combination
Live Oak has scheduled an extraordinary general meeting for June 16, 2026 where shareholders will vote on the proposed business combination with Teamshares. This is the key date when the merger transaction will be put to a shareholder vote.
Event · Item 9.01 — Financial Statements and Exhibits
Live Oak Acquisition Corp. V filed a Non-Redemption Agreement form, likely related to SPAC merger or redemption restrictions.
Added in current filing · verify on EDGAR →
10.1 Form of Non-Redemption Agreement
The company has filed a Form of Non-Redemption Agreement as an exhibit. This type of agreement typically restricts certain shareholders from redeeming their shares in connection with a SPAC business combination or merger transaction. The filing of this agreement suggests the company may be progressing toward a de-SPAC transaction or seeking to secure shareholder commitments.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 10, 2026 · How we verify