Shareholders of Live Oak Acquisition Corp. V (NASDAQ: LOKV) voted to approve the business combination with Teamshares, a tech-enabled acquiror of small and medium-sized enterprises (SMEs). The approval was granted during an extraordinary general meeting held on June 16, 2026. This decision marks a significant step toward finalizing the merger, which will result in the combined entity operating under the name Teamshares Inc.

Upon the closing of the transaction, existing shareholders of Live Oak will hold shares and/or warrants in Teamshares Inc. The shares are expected to trade on the Nasdaq under the ticker symbol "TMS," while warrants will trade under "TMSWW." The parties anticipate consummating the business combination in the coming week, subject to the satisfaction of customary closing conditions.

The merger is governed by an Agreement and Plan of Merger and is detailed in the Registration Statement on Form S-4 (Registration No. 333-294869), which was declared effective by the U.S. Securities and Exchange Commission (SEC). Teamshares focuses on acquiring companies with $0.5 to $5 million of EBITDA from retiring owners and currently operates subsidiaries with consolidated revenue of $490 million across over 40 industries and 30 states.

Financial and Legal Advisors

Several financial and legal advisory firms are supporting the transaction. Ellenoff Grossman & Schole LLP is serving as U.S. legal counsel to Live Oak, with Ogier acting as special Cayman Islands counsel. Latham & Watkins LLP is providing legal counsel to Teamshares. On the financial side, Santander US Capital Markets LLC is acting as financial advisor and capital markets advisor to Teamshares, as well as the placement agent on the Private Investment in Public Equity (PIPE). Compass Point, Northland, and Roth are also serving as capital markets advisors.

Key Transaction Details