Live Oak Acquisition Corp. VI (LOVIU) has an initial beneficial ownership statement naming Andrea K. Tarbox as a director and reporting person.
Live Oak Acquisition Corp. VI is registering an IPO of 20,000,000 units at $10.00 each, a $200,000,000 public offering. Each unit includes one Class A ordinary share and one-half of one redeemable warrant; each whole warrant entitles its holder to purchase one Class A share at $11.50 per share, subject to adjustment. The underwriter has a 45-day option to purchase up to 3,000,000 additional units.
The blank-check company has not selected a target or begun substantive discussions with one. It expects $200.0 million from the offering and private placement warrant sale to enter a U.S.-based trust, or $230.0 million if the over-allotment option is exercised in full. Public shareholders may redeem shares upon completion of a business combination. The company has 21 months from offering close, or up to 24 months if it executes a definitive agreement within 21 months, to complete one.
The sponsor committed to buy 4,600,000 private placement warrants for $4,600,000, including full exercise of the over-allotment option. It purchased 5,750,000 Class B founder shares for $25,000; up to 750,000 shares may be surrendered depending on option exercise. The company states that public shareholders will incur immediate and substantial dilution. Public warrants become exercisable 30 days after a business combination and expire five years after it, subject to earlier redemption or liquidation.