LiveOne Acquires Full Control of LiveOne Media for $1
Ticker: LVO · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1491419
Sentiment: neutral
Topics: acquisition, restructuring, subsidiary
TL;DR
LiveOne buys out the rest of LiveOne Media for a buck to simplify things.
AI Summary
LiveOne, Inc. announced on August 26, 2024, that it has entered into a definitive agreement to acquire the remaining 50% stake in its subsidiary, LiveOne Media, Inc., for $1.00. This transaction aims to simplify the company's capital structure and consolidate ownership. The acquisition is expected to be completed in the third quarter of 2024.
Why It Matters
This move consolidates ownership of LiveOne Media, Inc. under LiveOne, Inc., potentially streamlining operations and simplifying the company's capital structure.
Risk Assessment
Risk Level: low — The acquisition is for a nominal amount and aims to simplify the capital structure, indicating a low immediate financial risk.
Key Numbers
- $1.00 — Acquisition Price (Nominal amount paid for the remaining 50% stake in LiveOne Media, Inc.)
Key Players & Entities
- LiveOne, Inc. (company) — Registrant
- LiveOne Media, Inc. (company) — Subsidiary being acquired
- $1.00 (dollar_amount) — Purchase price for remaining stake
- August 26, 2024 (date) — Date of definitive agreement
- Third quarter of 2024 (date) — Expected completion timeframe
FAQ
What is the primary purpose of this acquisition?
The primary purpose is to simplify LiveOne, Inc.'s capital structure and consolidate ownership of LiveOne Media, Inc.
What percentage of LiveOne Media, Inc. is LiveOne, Inc. acquiring?
LiveOne, Inc. is acquiring the remaining 50% stake in LiveOne Media, Inc.
What is the purchase price for the remaining stake?
The purchase price is $1.00.
When is the acquisition expected to be completed?
The acquisition is expected to be completed in the third quarter of 2024.
What was LiveOne, Inc.'s former name?
LiveOne, Inc.'s former name was LiveXLive Media, Inc., with a name change date of August 8, 2017.
Filing Stats: 395 words · 2 min read · ~1 pages · Grade level 10.4 · Accepted 2024-08-30 17:00:10
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share LVO The NASDAQ
Filing Documents
- ea0212901-8k_liveone.htm (8-K) — 23KB
- 0001213900-24-074610.txt ( ) — 191KB
- lvo-20240826.xsd (EX-101.SCH) — 3KB
- lvo-20240826_lab.xml (EX-101.LAB) — 33KB
- lvo-20240826_pre.xml (EX-101.PRE) — 22KB
- ea0212901-8k_liveone_htm.xml (XML) — 4KB
01 Other
Item 8.01 Other Events. On August 26, 2024, LiveOne, Inc. (the "Company") extended the maturity date of its promissory note issued to East West Bank ("EWB"), underlying the Company's asset-backed loan credit facility with EWB, to September 15, 2024. 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: August 30, 2024 By: /s/ Aaron Sullivan Name: Aaron Sullivan Title: Chief Financial Officer 2