LiveOne, Inc. Files 8-K for Material Definitive Agreement
Ticker: LVO · Form: 8-K · Filed: May 14, 2024 · CIK: 1491419
Sentiment: neutral
Topics: material-definitive-agreement, corporate-event
Related Tickers: LVO
TL;DR
LiveOne (LVO) filed an 8-K for a material definitive agreement. Big news incoming.
AI Summary
On May 14, 2024, LiveOne, Inc. entered into a Material Definitive Agreement. The company, formerly known as LiveXLive Media, Inc., filed a Form 8-K to report this event. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates a significant business development for LiveOne, Inc., potentially impacting its operations, financial standing, and future strategic direction.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the specifics of this agreement are not detailed in the provided excerpt, requiring further investigation.
Key Players & Entities
- LiveOne, Inc. (company) — Registrant
- LiveXLive Media, Inc. (company) — Former company name
- LOTON, CORP (company) — Former company name
- May 14, 2024 (date) — Date of Report
FAQ
What is the nature of the Material Definitive Agreement entered into by LiveOne, Inc.?
The provided excerpt does not specify the details of the Material Definitive Agreement, only that one was entered into on May 14, 2024.
What was LiveOne, Inc.'s former company name?
LiveOne, Inc. was formerly known as LiveXLive Media, Inc., and prior to that, LOTON, CORP.
When was the Form 8-K filed?
The Form 8-K was filed on May 14, 2024.
What is LiveOne, Inc.'s state of incorporation?
LiveOne, Inc. is incorporated in Delaware.
What is the principal executive office address for LiveOne, Inc.?
The principal executive offices are located at 269 South Beverly Drive, Suite 1450, Beverly Hills, CA 90212.
Filing Stats: 884 words · 4 min read · ~3 pages · Grade level 10.6 · Accepted 2024-05-14 16:30:23
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share LVO The NASDAQ
- $25,000,000 — s sole discretion an aggregate of up to $25,000,000 of its shares of common stock, $0.001 p
- $5.00 — e Sales Agreement at a price lower than $5.00 per share. The Shares may be issued an
- $50,000 — Roth Capital's fees and expenses up to $50,000 in connection with entering into the Sa
Filing Documents
- ea0202350-8k_liveone.htm (8-K) — 30KB
- ea020235001ex1-1_liveone.htm (EX-1.1) — 236KB
- ea020235001ex5-1_liveone.htm (EX-5.1) — 7KB
- ex5-1_001.jpg (GRAPHIC) — 8KB
- 0001213900-24-042978.txt ( ) — 516KB
- lvo-20240514.xsd (EX-101.SCH) — 3KB
- lvo-20240514_lab.xml (EX-101.LAB) — 33KB
- lvo-20240514_pre.xml (EX-101.PRE) — 22KB
- ea0202350-8k_liveone_htm.xml (XML) — 4KB
01 Entry into a Material Definitive
Item 1.01 Entry into a Material Definitive Agreement. On May 14, 2024, LiveOne, Inc. (the "Company") entered into a Sales Agreement (the "Sales Agreement") with Roth Capital Partners, LLC ("Roth Capital") as sales agent, pursuant to which the Company may sell, from time to time, at its sole discretion an aggregate of up to $25,000,000 of its shares of common stock, $0.001 par value per share (the "Shares"). The Company intends to use the net proceeds, if any, from the sale of shares under the Sales Agreement for working capital and other general corporate purposes, which may include future acquisitions of businesses and content and strengthening its balance sheet. The Company's management does not currently intend to sell shares under the Sales Agreement at a price lower than $5.00 per share. The Shares may be issued and sold from time to time through or to Roth Capital acting as sales agent or principal pursuant to the Company's shelf Registration Statement on Form S-3 (Reg. No. 333-262549). The Company will file a prospectus supplement, dated May 14, 2024, pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the "Securities Act"), with respect to the Shares. Sales of the Shares, if any, under such prospectus supplement may be made in transactions that are deemed to be "at the market offerings" pursuant to Rule 415 under the Securities Act. The Company will pay Roth Capital a commission equal to 3.0% of the gross sales price per share for any Shares sold through Roth Capital under the Sales Agreement and reimburse Roth Capital's fees and expenses up to $50,000 in connection with entering into the Sales Agreement, in addition to certain ongoing disbursements of their legal counsel. The Company has provided Roth Capital with customary indemnification and contribution rights. The Sales Agreement may be terminated by Roth Capital or the Company at any time upon notice to the other party as provided in the Sales Agreement, or by Roth Capital at any
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 1.1* Sales Agreement, dated as of May 14, 2024, between the Company and Roth Capital Partners, LLC. 5.1* Opinion of Foley Shechter Ablovatskiy LLP. 23.1* Consent of Foley Shechter Ablovatskiy LLP (contained in Exhibit 5.1). 104* Cover Page Interactive Data File (embedded within the Inline XBRL document) * Filed herewith. 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LIVEONE, INC. Dated: May 14, 2024 By: /s/ Aaron Sullivan Name: Aaron Sullivan Title: Chief Financial Officer 2