Live Oak Acquisition Corp. V Sets Price for $200 Million IPO
New York, NY — Live Oak Acquisition Corp. V, also referred to simply as the Company, has recently announced an important development in its journey. The Company has priced its initial public offering (IPO) at a substantial $200 million. With this move, Live Oak Acquisition Corp. V is poised to enter the Nasdaq Global Market under the ticker symbol “LOKVU,” marking a significant milestone for the firm.
Details of the Offering
In this exciting IPO, the Company will release 20 million units, each consisting of one Class A ordinary share and one-half of a redeemable warrant. These warrants play a critical role, as they give holders the opportunity to purchase an additional Class A ordinary share for $11.50, subject to adjustment. Importantly, fractional warrants will not be issued; only whole warrants will be available for trading once the units commence separate trading. This separation is expected to happen shortly after the offering is completed.
The Company anticipates that the closing of this offering will occur soon, subject to customary closing conditions. Additionally, the underwriter has been granted a 45-day option to buy up to 3 million additional units to account for any over-allotments that could arise.
Strategic Vision and Leadership
Live Oak Acquisition Corp. V is not just another blank check company. It is strategically established to explore potential merger, amalgamation, share exchange, or similar business opportunities across various industries. The Company knows the stakes are high, as the right acquisition could significantly enhance its market position.
Leading the helm of this initiative is a seasoned management team headed by Richard Hendrix, who serves as the Chairman and Chief Executive Officer. He co-founded Live Oak Merchant Partners, guiding the vision and strategy of the Company with a wealth of experience in investment and business management. Assisting him is Adam Fishman, who serves as the President, Chief Financial Officer, and Director, contributing his insights as a Managing Partner of Live Oak.
The Board of Directors
To further strengthen its leadership, the Board of Live Oak Acquisition Corp. V includes notable figures like Ashton Hudson, Jonathan Furer, and Andrea Tarbox. Additionally, Gary Wunderlich, Jr. takes on the role of Senior Advisor, adding depth to the Company’s advisory capabilities.
Underwriting and Regulatory Filings
In this IPO journey, Santander US Capital Markets LLC plays a pivotal role, acting as the sole underwriter for this offering. Their expertise in market dynamics and securities will be crucial for the successful launch and execution of the IPO.
Prospectus and Investor Information
The offering is being conducted under strict regulatory guidelines, with copies of the prospectus available from Santander US Capital Markets LLC. They are preparing to provide crucial insights and details about the offering to prospective investors. For interested parties, communication can be initiated via their office in New York.
Moreover, a registration statement with the U.S. Securities and Exchange Commission (“SEC”) has been submitted and has become effective. This proactive step ensures that all regulatory requirements are met and that investors have access to all necessary information regarding the IPO.
Frequently Asked Questions
What is the purpose of Live Oak Acquisition Corp. V?
Live Oak Acquisition Corp. V is designed to engage in mergers and acquisitions within various industries, facilitating growth through strategic partnerships.
What does the IPO entail?
The IPO involves pricing at $200 million with 20 million units being offered, allowing investors to purchase shares and warrants to expand their portfolios.
Who leads Live Oak Acquisition Corp. V?
The company is led by Richard Hendrix and Adam Fishman, seasoned professionals in investment and corporate management.
When will the stock begin trading?
Trading of the stock under the ticker LOKVU is expected to commence shortly after the IPO closes, pending all regulatory conditions are satisfied.
What role does Santander US Capital Markets play?
As the sole underwriter, Santander US Capital Markets LLC is responsible for managing the offering, ensuring a seamless transition into the public market for Live Oak Acquisition Corp. V.
