Live Oak Acquisition Corp. V has announced a significant amendment to its merger agreement with Teamshares Inc., originally established on November 14, 2025. The amendment, executed on April 1, 2026, introduces several key changes aimed at refining the terms of the merger and enhancing the overall structure of the business combination. Notably, the amendment reflects the execution of a second letter agreement amendment, which allows for the release of up to 1,150,000 incentive founder shares used to secure commitments for interim financing transactions. This adjustment is expected to facilitate the closing of the merger by incentivizing public shareholders not to redeem their shares prior to the closing date.

Additionally, the amendment revises the definition of 'Fully-Diluted Company Shares' to account for liquidation preference elections and the calculation of shares issuable upon the settlement of in-the-money vested company options. The changes also include provisions for the assumption of certain company options by the SPAC and the establishment of a post-closing employee stock purchase plan, which will reserve shares equal to 2% of the aggregate shares of SPAC common stock issued and outstanding immediately after closing.

These modifications are designed to clarify the mechanics of the originally contemplated transaction without materially altering the economic terms or overall structure of the business combination. The merger agreement remains in full force and effect, with the amendments serving to enhance the clarity and execution of the merger process. Live Oak Acquisition Corp. V continues to work towards finalizing the merger with Teamshares, which is anticipated to create significant value for shareholders and stakeholders alike.

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