Teamshares begins trading as TMS on Nasdaq after $126.5m PIPE
Teamshares Inc. began trading on Nasdaq under the symbol TMS on June 23, 2026, following its business combination with Live Oak Acquisition Corp. V. The transaction included a $126.5 million PIPE led by T. Rowe Price Investment Management. The company, a tech-enabled acquiror of SMEs, has grown to 93 businesses with $490 million in revenue.
*this image is generated using AI for illustrative purposes only.
Teamshares Inc. commenced trading on the Nasdaq on June 23, 2026, under the ticker symbols TMS and TMSWW, replacing the previous symbols LOKV and LOKVW. This listing follows the completion of its business combination with Live Oak Acquisition Corp. V. The transaction was supported by a $126.5 million common equity Private Investment in Public Equity (PIPE) led by accounts advised by T. Rowe Price Investment Management, with participation from other institutional investors and management.
Teamshares operates as a tech-enabled acquiror of small and medium-sized enterprises (SMEs), functioning as a permanent home for retiring owners. The company has grown to 93 businesses since 2020 and programmatically acquires companies with $0.5 to $5 million of EBITDA. Its software sources 75,000 actively for sale businesses per year. Founded in 2019, Teamshares operates subsidiaries with consolidated revenue of $490 million across over 40 industries and 30 states.
Management highlighted the strategic benefits of the public listing. Teamshares cofounder and CEO Michael Brown stated that going public provides additional financing options to expand the model. Cofounder and President Alex Eu noted the platform's ability to transition and grow businesses, while Cofounder and CTO Kevin Shiiba emphasized the compounding value of the company's proprietary dataset and AI in underwriting and operations.
Key Transaction Details
| Detail | Information |
|---|---|
| Surviving Entity | Teamshares Inc. |
| New Ticker Symbol (Shares) | TMS |
| New Ticker Symbol (Warrants) | TMSWW |
| Previous Ticker (Shares) | LOKV |
| Previous Ticker (Warrants) | LOKVW |
| Exchange | Nasdaq |
| Trading Start Date | June 23, 2026 |
| PIPE Capital Raised | $126.5 million |
| Teamshares Revenue | $490 million |
| Teamshares EBITDA Range | $0.5 to $5 million |
| Businesses Acquired | 93 |
How does TeamShares plan to utilize the $126.5 million in PIPE capital to scale its acquisition volume beyond the current 93 businesses?
What specific metrics will the market use to evaluate the efficiency of TeamShares' proprietary AI and dataset in underwriting post-IPO?
With the new public currency, will TeamShares look to expand its EBITDA acquisition range beyond the current $0.5 to $5 million threshold?
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