Live Oak Acquisition V, a blank check company formed by Live Oak Merchant Partners, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Memphis, TN-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Live Oak Acquisition V would command a market value of $250 million.
Live Oak Acquisition V is led by CEO and Chairman Richard Hendrix, the founder and Managing Partner of merchant banking firm Live Oak. The SPAC plans to target businesses with above-industry-average growth, substantial free cash flow generation, and a defensible market position, with an enterprise value of $500 million to $2 billion.
Management's previous SPACs include Live Oak Acquisition, which completed its combination with bioplastics maker Danimer Scientific (DNMR; -84% from $10 offer price) in 2020, and Live Oak Acquisition II, which completed its combination with semiconductor developer Navitas Semiconductor (NVTS; -68%) in 2021. It also backed two other SPACs that liquidated (LOKM.U and LOCC.U).
Live Oak Acquisition V was founded in 2024 and plans to list on the Nasdaq under the symbol LOKVU. Banco Santander is the sole bookrunner on the deal.
