Recent Updates — LOKVU
Teamshares Inc.'s subsidiary entered into a $130 million senior secured term loan facility maturing in October 2030, bearing interest at one-month Term SOFR plus 9.50%. The company used the proceeds to fully repay and terminate its existing $150 million credit facility, which had an aggregate payoff amount of approximately $152.8 million including accrued interest. This refinancing lowers the annual interest expense by roughly $5 million at current rates and removes a near-term maturity risk. Teamshares Inc. is a tech-enabled acquiror of high-quality small and medium-sized enterprises.
Teamshares Inc. closed a $225 million preferred equity investment on September 23, 2026, issuing 225,000 shares of Series A Preferred Stock to purchasers affiliated with T. Rowe Price Investment Management. The company received net proceeds of approximately $222.75 million after a 1% original issue discount, with funds designated for programmatic acquisitions of small and medium-sized enterprises. The perpetual, non-voting, non-convertible shares carry a liquidation preference of $1,000 per share and accrue cumulative dividends at an annual rate of 16.0% if paid in cash or 18.0% if paid in kind. Teamshares retains the right to issue up to an additional $75 million in Series A Preferred Stock under identical terms. The company operates as a tech-enabled acquiror of high-quality small and medium-sized businesses.
Teamshares Inc. reported financial results for the second quarter ended June 30, 2026, announcing revenue of $148.7 million, a 20% year-over-year increase, and net income of $9.5 million. Adjusted EBITDA rose 166% to $9.6 million, while LTM Pro Forma Adjusted EBITDA reached $21.2 million. The company reaffirmed its full-year 2026 guidance for Pro Forma Adjusted EBITDA of $60 million and reported approximately $30 million in annual SME EBITDA under letter of intent for pending acquisitions. Teamshares also disclosed the repayment of $54.5 million in debt obligations during and after the quarter, alongside entering a non-binding term sheet for a senior secured warehouse facility to fund future closings. Teamshares is a tech-enabled holding company that programmatically acquires small-to-medium-sized businesses from retiring owners.
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.