🧾 What This Document Is

This is a Form 425 filing, which is like a public scrapbook page for a merger. It's where companies publicly share materials they've already put out—like press releases—related to a proposed deal. Think of it as the official record of their public announcements.

👉 Why it matters: It signals that the merger process is moving forward and provides investors with the latest official news straight from the companies involved.

🏢 What The Companies Do

Teamshares (soon to be TMS) is the main event here. In simple terms, they are a company that buys small businesses (with $0.5 to $5 million in profit) from retiring owners. They then use their tech platform to help run these businesses and give employees a path to own stock. They're like a long-term home for small companies, combining private equity with a fintech employee stock plan.

Live Oak Acquisition Corp. V (LOKV) is the shell company, or SPAC. Its only job is to find a great private company to merge with and take public. Live Oak V is the fifth one from its sponsor team, which has a history of doing these deals.

🚀 The Big News: Filing the S-4

The core announcement here is that Teamshares and Live Oak V have filed their official merger paperwork with the SEC, called a Form S-4.

👉 Why this matters: This filing contains the crucial details of the deal, including a preliminary proxy statement (which is a ballot for shareholders) and a prospectus (which is the investment case for the new company). It kicks off the formal regulatory and shareholder approval process.

📦 The Proposed Deal's Key Details

The deal was first announced back on November 14, 2025. Here are the updated specifics:

• The New Company: After the merger, the combined company will be called "Teamshares Inc."
• New Stock Ticker: It plans to trade on the Nasdaq stock exchange under the symbol "TMS."
• Expected Closing: The deal is targeted to close in the second quarter (Q2) of 2026.
• What's Left to Do: It still needs SEC approval, a "yes" vote from Live Oak V's shareholders, and other standard conditions to be met.

🔍 The Legal Fine Print (Simplified)

The filing includes important standard warnings and instructions:

• Read the Documents: Shareholders are urged to read all the SEC filings when they become available because they contain essential information before making any voting decisions.
• Future Plans Are Risky: Any statements about the future are based on current plans and involve risks. Actual results could be very different.
• Who's Running the Show: The people in charge of both companies might be considered "participants" in the process of getting shareholder votes.

📞 How to Get More Information & Contacts

The companies direct people to the official sources:

• Official Documents: Available for free at the SEC website (www.sec.gov) and Live Oak's website (www.liveoakmp.com).
• Request by Mail: You can also request documents by writing to Live Oak at 4921 William Arnold Road, Memphis, Tennessee, 38117.
• Investor & Press Contacts:
  • Investor Relations: [email protected]
  • Press Inquiries: [email protected]

🧠 The Analogy

This filing is like the couple (Teamshares) and their wedding planner (Live Oak V) finally sending out the official wedding invitations (the S-4). The invitations contain the full itinerary and details. Now, the wedding guests (shareholders) need to review everything, RSVP (vote), and then the couple can officially tie the knot (close the deal) and start their new life as a married unit (a public company) in Q2.

🧩 Final Takeaway

Teamshares is one step closer to going public via its merger with Live Oak V. The key milestone just passed is the filing of the S-4 registration statement, which starts the clock on SEC review and the shareholder vote. The next big steps are the SEC declaring it effective and Live Oak V's shareholders approving the deal, with a closing expected in Q2 2026.