Live Oak Acquisition Corp. V Business Summary

Live Oak Acquisition Corp. V (LOKV) is a special purpose acquisition company (SPAC) currently executing a definitive business combination with Teamshares Inc., a tech-enabled platform for the programmatic acquisition of small-to-medium enterprises (SMEs). The company’s revenue model is driven by the consolidated earnings of its diverse portfolio of over 90 acquired businesses—generating approximately $450 million in annual revenue—supplemented by fintech services and software fees integrated into these subsidiaries. Teamshares targets retirement-driven sales of companies with $0.5 million to $5 million in EBITDA, utilizing a proprietary technology stack to streamline diligence and transition these firms to employee-owned entities. Within the fragmented SME acquisition market, LOKV’s target competes with permanent capital vehicles and roll-up platforms such as Chenmark, Permanent Equity, and Main Street Capital Corporation, distinguishing itself through its high-velocity, tech-enabled acquisition engine and a unique social mission of broad-based employee ownership. LOKV is led by a management team with deep roots in investment banking and capital markets, specifically through Live Oak Merchant Partners. Richard Hendrix serves as Chairman and CEO, bringing extensive experience from his tenure as CEO of FBR & Co. and his role as an operating executive at Crestview Partners. He is joined by Adam Fishman, President and CFO, who previously served as Managing Director and Head of the Permanent Capital Group at Jefferies. Upon the anticipated Q2 2026 merger close, the leadership will integrate with Teamshares’ founding team, led by Co-founder and CEO Michael Brown. The transaction is supported by a $126 million PIPE anchored by T. Rowe Price Investment Management, Inc., and the board includes seasoned directors such as Ashton Hudson, Jonathan Furer, and Andrea Tarbox, ensuring robust governance as the entity transitions to its Nasdaq listing under the ticker 'TMS'.