Live Oak Acquisition Corp. V Completes $230,000,000 Initial Public Offering
Rhea-AI Summary
Live Oak Acquisition Corp. V has successfully completed its initial public offering (IPO) of 23,000,000 units at $10.00 per unit, generating gross proceeds of $230,000,000. The offering included 3,000,000 units from the full exercise of underwriters' over-allotment option.
Trading began on Nasdaq Global Market under symbol LOKVU on February 28, 2025. Each unit comprises one Class A ordinary share and half a redeemable warrant. Whole warrants, exercisable at $11.50 per share, will be activated 30 days post-business combination.
Of the total proceeds, including funds from a private warrant placement, $231,150,000 ($10.05 per unit) was placed in trust. The blank check company, led by Chairman and CEO Richard Hendrix and President/CFO Adam Fishman, aims to pursue merger or acquisition opportunities across any business sector. Santander served as the sole underwriter for the offering.
Positive
- Successful IPO raising $230M in gross proceeds
- Full exercise of over-allotment option indicating strong demand
- $231.15M placed in trust ($10.05 per unit)
- Listing on major exchange (Nasdaq Global Market)
Negative
- No specific acquisition target identified
- Blank check company with inherent investment uncertainty
- Warrant dilution potential at $11.50 exercise price
News Market Reaction – LOKVU
In the trading session that priced this news, LOKVU declined 0.20%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
New York, NY, March 03, 2025 (GLOBE NEWSWIRE) -- Live Oak Acquisition Corp. V (the “Company”) announced today the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at
Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants,
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry. The Company’s management team is led by Richard Hendrix, its Chairman, Chief Executive Officer and the co-founder of Live Oak Merchant Partners (“Live Oak”), and Adam Fishman, its President, Chief Financial Officer, Director and a Managing Partner of Live Oak. The Board also includes Ashton Hudson, Jonathan Furer and Andrea Tarbox. Gary Wunderlich, Jr. will serve as a Senior Advisor.
Santander acted as the sole underwriter for the offering.
The offering was made by means of a prospectus. Copies of the prospectus may be obtained from Santander US Capital Markets LLC, 437 Madison Avenue, New York, NY 10022, Attention: ECM Syndicate, by email at equity-syndicate@santander.us, or by telephone at 833-818-1602. A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 27, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all.
Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contacts
Live Oak Acquisition Corp. V
4921 William Arnold Road
Memphis, Tennessee 38117
Attn: Adam Fishman
E-mail: IR@liveoakmp.com
