Live Oak SPAC strikes deal to lock up 4M shares, reduce redemptions in Teamshares merger

Filed June 1, 2026 · Period ending June 1, 2026 · ~1 min read

Key Changes

• high

  Live Oak entered Forward Purchase Agreement with HB Strategies to buy up to 4 million public shares and waive redemption rights, preserving trust capital for the Teamshares business combination closing.

  Item 1.01 verify on EDGAR →
• high

  At merger closing, Live Oak will pay HB Strategies from trust account funds (after redemptions) based on share price set 5 days before closing, with 24-month term and downward price adjustment provisions.

  Item 1.01 verify on EDGAR →
• medium

  Current redemption price disclosed at $10.54 per share as of May 29, 2026, providing shareholders valuation benchmark for upcoming Teamshares merger vote.

  Item 1.01 verify on EDGAR →