Bullish indicating open at $55-$60, IPO prices at $37
On Monday, Live Oak Acquisition Corp. V, a special purpose acquisition company, announced the successful completion of its initial public offering (IPO), raising $230 million through the sale of 23 million units, including a fully exercised over-allotment option of 3 million units. Each unit, priced at $10, comprises one Class A ordinary share and half of one redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at $11.50. The company’s market capitalization now stands at approximately $251 million, with the stock trading near its 52-week high of $10.04.
Concurrently with the IPO, the company also sold 4.5 million private placement warrants to its sponsor, Live Oak Sponsor V, LLC, at $1 per warrant, adding another $4.5 million to its proceeds. The net proceeds from both the IPO and the private sale, after deducting underwriting discounts and commissions, have been placed into a trust account managed by Continental Stock Transfer & Trust Company.
The company’s audited balance sheet as of Monday reflects the receipt of the IPO and private placement proceeds. Live Oak Acquisition Corp. V, which is based in Memphis, TN, is now listed on The Nasdaq Stock Market under the symbols LOKV for its Class A ordinary shares and LOKVW for its warrants.
This financial move positions the company to pursue potential business combination targets within the real estate and construction sector. The information is based on a press release statement filed with the Securities and Exchange Commission.
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