Live Oak Acquisition Corp. V Reports Financial Performance for Q1 2025

Live Oak Acquisition Corp. V, a special purpose acquisition company (SPAC) incorporated in the Cayman Islands, reported its financial performance for the first quarter of 2025 in its recent 10-Q filing. The company completed its Initial Public Offering (IPO) on March 3, 2025, raising gross proceeds of $230 million from the sale of 23 million units, which included a full exercise of the underwriters' over-allotment option. Additionally, the company raised $4.5 million through the sale of 4.5 million Private Placement Warrants to its sponsor. As of March 31, 2025, Live Oak had total assets of approximately $234.4 million, with $231.9 million held in a trust account, primarily invested in U.S. Treasury securities.

In terms of profitability, Live Oak reported a net loss of $6.3 million for the three months ended March 31, 2025. This loss was attributed to general and administrative costs of $7 million, partially offset by interest income of $717,933 earned on marketable securities held in the trust account. The company’s accumulated deficit increased to approximately $11.4 million, reflecting the costs associated with its formation and IPO activities. Compared to the previous fiscal period, the company’s total current assets rose significantly from $67,546 at the end of December 2024 to $2.4 million by the end of March 2025, primarily due to the proceeds from the IPO.

Strategically, Live Oak has not yet engaged in any business operations or completed a business combination, as it was formed to identify and acquire a target company. The company has until December 3, 2026, to complete its initial business combination, with the possibility of extending this period under certain conditions. The management team is currently focused on identifying suitable acquisition targets and conducting due diligence. As of the reporting date, the company had not yet generated any operating revenues, and it does not expect to do so until after completing a business combination.

Operationally, Live Oak reported cash and cash equivalents of $2.2 million as of March 31, 2025, which it intends to use for identifying and evaluating potential target businesses. The company has also incurred monthly administrative expenses of $17,500 for office space and support services. The total liabilities increased to approximately $13.9 million, primarily due to accrued expenses and deferred fees related to the IPO. The company’s management has indicated that it may seek additional financing to cover any potential working capital deficiencies or transaction costs associated with a business combination.

Looking ahead, Live Oak Acquisition Corp. V remains focused on executing its business strategy within the regulatory framework established by the SEC, including the recently adopted 2024 SPAC Rules. These rules may impact the company’s ability to negotiate and complete its initial business combination, potentially increasing associated costs and timelines. The management team is actively assessing market conditions and potential acquisition opportunities, with the goal of maximizing shareholder value through a successful business combination.