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live oak acquisition corp. v announces director resignation

Published 05/06/2025, 21:40
live oak acquisition corp. v announces director resignation
LOKVU
-1.96%

Live Oak Acquisition Corp. V (NASDAQ:LOKV) reported the resignation of Jonathan R. Furer from its board of directors, effective June 1, 2025. This announcement was made in a recent SEC filing. Mr. Furer also stepped down from his role as chair of the compensation committee and other board committees. His resignation letter is attached as Exhibit 17 in the filing. The company’s stock is currently trading at $11.23, touching its 52-week high amid challenging financial metrics, including a current ratio of 0.14.

Live Oak Acquisition Corp. V is a blank check company incorporated in the Cayman Islands and headquartered in Memphis, Tennessee. It is listed on the Nasdaq Stock Market, with its Class A ordinary shares trading under the symbol LOKV. With a market capitalization of $298 million, the company currently shows signs of being overbought according to InvestingPro analysis, which offers 6 additional key insights about the company’s financial health and market position.

This information is based on a press release statement included in the company’s 8-K filing with the Securities and Exchange Commission.

In other recent news, Live Oak Acquisition Corp. V successfully completed its initial public offering, raising $230 million. The IPO involved the sale of 23 million units, with each unit priced at $10, including a fully exercised over-allotment option of 3 million units. Additionally, the company sold 4.5 million private placement warrants to its sponsor, Live Oak Sponsor V, LLC, at $1 per warrant, generating an extra $4.5 million. The net proceeds from these transactions have been placed into a trust account managed by Continental Stock Transfer & Trust Company. Live Oak Acquisition Corp. V is now listed on The Nasdaq Stock Market. The company’s recent financial activities have positioned it to explore potential business combination targets within the real estate and construction sector. These developments were disclosed in a press release filed with the Securities and Exchange Commission.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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