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Live Oak Mobility Acquisition Corp. (NYSE: LOKM) announced the redemption of all outstanding Class A common stock effective March 20, 2023. This decision follows the company's inability to consummate a business combination within the required time frame as per its amended charter. The redemption price per share is estimated at $10.16. Shareholders will have their public shares canceled and will be eligible to receive the Redemption Amount upon presenting their shares. Beneficial owners with shares in street name will not need to take any action. This step marks a significant development in the company's operational status.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM, LOKM.U, LOKM WS) announced the redemption of all outstanding shares of its Class A common stock due to the inability to complete a business combination by March 20, 2023. The redemption price for the public shares is set at approximately $10.16. Following this date, the public shares will be cancelled, granting holders the right to receive the redemption amount. Beneficial owners in 'street name' will automatically receive the redemption amount without needing to take action. Live Oak is a blank check company focused on business combinations.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM) announced its decision to redeem all outstanding shares of Class A common stock, effective March 20, 2023, as it failed to complete a business combination by the March 6 deadline. The redemption price will be based on the funds in its trust account, and the company's public shares will cease trading on March 7. Following the redemption, the company will wind down operations and file for delisting. The company will not redeem warrants, which will expire worthless. This marks a significant move towards dissolution after failing to secure a merger or acquisition.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM, LOKM.U, LOKM WS) announced a full redemption of all outstanding Class A common stock shares due to its failure to complete a business combination by March 6, 2023. The redemption will occur on March 20, 2023, with stockholders receiving a cash payment based on the funds in the Company's trust account. Following this, the Company will dissolve and liquidate its assets, suspending operations except those necessary for winding up. Additionally, the NYSE will file for the delisting of its securities. No redemptions will apply to warrants or Class B common stock.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM) has cancelled its special meeting of stockholders that was scheduled for March 2, 2023. The company will withdraw proposals from its Definitive Proxy Statement, leading to the expected redemption of all outstanding Class A common stock sold during its IPO. This action is a result of failing to complete an initial business combination within the required time frame. Further details regarding the redemption process are anticipated to be announced soon.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM, LOKM.U) has announced the cancellation of its special stockholder meeting originally set for March 2, 2023. The company will withdraw proposals from its Definitive Proxy Statement filed with the SEC on February 10, 2023. Due to a failure to complete an initial business combination within the required timeframe, LOKM plans to redeem all outstanding shares of Class A common stock from its IPO. Further details regarding the redemption process will be disclosed soon.
Live Oak Mobility Acquisition Corp. received a notification from the NYSE for failing to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, in accordance with Section 802.01E of the NYSE Listed Company Manual. While this notice does not immediately affect its NYSE listing, the Company plans to address the compliance issue by filing the overdue Form 10-Q by June 15, 2021. Live Oak aims to focus on mergers and acquisitions within the mobility and motion technology sectors.
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