Teamshares Inc. completed its business combination with Live Oak Acquisition Corp. V on June 18, 2026. The transaction involved a two-step merger and the domestication of Live Oak from the Cayman Islands to Delaware. The aggregate merger consideration paid to Legacy Teamshares stockholders was $525.0 million in newly issued common stock valued at $10.00 per share. Additionally, the company closed a PIPE investment of approximately $126.5 million through the sale of 13,750,000 shares. Following the closing, the company ceased to be a shell company and began trading on Nasdaq under the symbol TMS. Teamshares operates a tech-enabled employee ownership platform for acquiring small-to-medium-sized businesses.

Teamshares Inc. announced that its common stock has begun trading on The Nasdaq Stock Market LLC under the new trading symbol "TMS" as of June 23, 2026. The company also released an investor presentation on its website on June 24, 2026. Teamshares Inc. operates in the technology and services sector, providing platform-based solutions for small business ownership transition.

On June 16, 2026, Live Oak Acquisition Corp. V shareholders approved a business combination and related proposals, including domestication, charter amendments, and the election of directors Michael Brown, Alex Eu, Adam J. Fishman, Richard J. Hendrix, and Evan Moore. Holders of 18,438,659 Class A Ordinary Shares exercised redemption rights, leaving approximately $48.1 million in the company's trust account. The company operates as a special purpose acquisition company (SPAC) designed to effect a business combination.

Live Oak Acquisition Corp. V entered into Non-Redemption Agreements with unaffiliated third-party shareholders and its Sponsor, Live Oak Sponsor V LLC, on June 5, 2026, to support its proposed business combination with Teamshares Inc. The agreements involve a commitment from NRA Investors to not redeem 276,646 Class A ordinary shares at the upcoming June 16, 2026, extraordinary general meeting. In exchange, the Sponsor will transfer 37,171 Class A ordinary shares to the NRA Investors upon closing. Live Oak Acquisition Corp. V is a special purpose acquisition company (SPAC) focused on identifying and completing a business combination.

Live Oak Acquisition Corp. V disclosed a trust account liquidation value of approximately $10.55 per share as of June 8, 2026, in connection with its proposed business combination with Teamshares Inc. The disclosure is part of a Forward Purchase Agreement with a fund sub-advised by JBA Asset Management LLC. Live Oak Acquisition Corp. V is a special purpose acquisition company (SPAC) focused on identifying and completing a business combination.