Live Oak Acquisition

What Live Oak Acquisition does

Live Oak Acquisition Corporation is a Delaware-based SPAC (Special Purpose Acquisition Company) sponsor entity managed by Live Oak Merchant Partners, a private holding company co-founded by Richard Hendrix and led by Adam Fishman. Since 2020, the firm has sponsored a series of five publicly listed blank-check companies — LOAK, LOKB, LOKM, LOCC, and LOKV — with aggregate IPO proceeds of approximately $1.14 billion, listed on NYSE and Nasdaq. Each SPAC is structured as a separate legal entity with the sole purpose of identifying and merging with a privately held target company to take it public. The sponsor generates revenue through founder shares (typically 20% equity stake), deferred underwriting fees, and performance bonuses contingent on successful business combinations rather than recurring operating revenue.

The firm has executed three successful de-SPAC transactions: the December 2020 merger with Danimer Scientific (bioplastics, $890 million equity value, NYSE: DNMR), the October 2021 merger with Navitas Semiconductor (GaN power semiconductors, $1.4 billion equity value, Nasdaq: NVTS), and the June 2026 merger with Teamshares (tech-enabled SMB acquirer, $746 million pro forma enterprise value, Nasdaq: TMS). Two SPACs — LOKM (mobility focus, March 2021) and LOCC (climate focus, September 2021) — failed to identify suitable targets within their timeframes and returned capital to shareholders in March 2023 and December 2023 respectively. The most recent vehicle, LOKV, priced a $230 million IPO in March 2025 and focuses on companies with enterprise values of $500 million to $2 billion.

The business model is fundamentally a financial services operation: SPAC units are sold through underwritten IPOs (primarily Jefferies LLC and BofA Securities), with deal closings supported by PIPE (Private Investment in Public Equity) capital from institutional investors including Apollo Global Management, T. Rowe Price Investment Management, and Federated Hermes. Live Oak Merchant Partners has supplemented its capabilities through strategic partnerships with Hawksbill Group (manufacturing/mobility expertise) and Crestview Partners ($10 billion AUM, climate focus). The firm's headquarters is in Memphis, Tennessee, with its most recent SPAC (LOKV) domiciled in the Cayman Islands.

Name

Live Oak Acquisition

Legal name

Live Oak Acquisition Corporation

Website

https://liveoakacq.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Live Oak Acquisition Corporation is a SPAC sponsor entity managed by Live Oak Merchant Partners that has raised approximately $1.14 billion across five publicly listed blank-check companies since 2020, executing three successful de-SPAC mergers (Danimer Scientific, Navitas Semiconductor, Teamshares) to take private companies public.

Ownership category

akta.pro rank

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. SPAC Sponsor Economics: SPAC sponsors earn returns through founder shares (typically 20% equity stake), deferred underwriting fees from IPOs, and potential performance bonuses upon successful business combinations. The sponsor entities (Live Oak Merchant Partners) generate revenue when SPACs successfully merge with target companies and when sponsor shares/earnouts vest.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Live Oak Acquisition Corp is a serial sponsor of Special Purpose Acquisition Companies (SPACs) that raise capital through IPOs on public exchanges and subsequently identify and merge with privately held businesses to take them public. The firm has sponsored multiple SPACs (LOAK, LOKB, LOKM, LOCC, LOKV) targeting companies in sectors including bioplastics, semiconductors, mobility technology, climate/sustainability, and general high-growth businesses with enterprise values of $500mm to $2B.

Product overview

Live Oak Acquisition Corp is a SPAC (Special Purpose Acquisition Company) sponsor that creates blank-check companies to take private businesses public through mergers. The company operates as a portfolio of multiple SPACs, each with distinct sector focuses: LOAK (bioplastics via Danimer Scientific), LOKB (GaN semiconductors via Navitas Semiconductor), LOKM (mobility technology - no successful target), LOCC (climate/sustainability - no successful target), and LOKV (general growth companies via Teamshares). Each SPAC is a separate entity with its own ticker, IPO proceeds, and target sector focus.

Differentiator

Problem solved

Functional benefit

Products and services

• Live Oak Acquisition Corp (LOAK) The first SPAC sponsored by Live Oak Merchant Partners; a blank-check company formed to merge with a private business to enable it to go public. Completed its December 2020 acquisition of Danimer Scientific (NYSE: DNMR), a high-growth producer of biodegradable plastic feedstock, at an equity value of $890 million.
• Live Oak Acquisition Corp II (LOKB) The second SPAC sponsored by Live Oak Merchant Partners; a blank-check company targeting a private business combination. Completed an October 2021 business combination with Navitas Semiconductor (Nasdaq: NVTS), an industry leader in Gallium Nitride (GaN) Power ICs, at an equity value of $1.4 billion.
• Live Oak Mobility Acquisition Corp (LOKM) A SPAC focused on opportunities in the mobility and motion technology sectors, in partnership with the Hawksbill Group. Returned all capital to shareholders in March 2023 after failing to close a transaction within the targeted timeframe.
• Live Oak Crestview Climate Acquisition Corp (LOCC) A SPAC focused on opportunities in environmental sustainability industries, in partnership with Crestview Partners. Returned all capital to shareholders in December 2023 after failing to close a transaction with a suitable merger partner.
• Live Oak Acquisition Corp. V (LOKV) The fifth SPAC sponsored by Live Oak Merchant Partners; a blank-check company focused on companies with significant growth prospects, substantial free cash flow generation, and defensible market positions, with enterprise values of $500mm to $2B. Completed merger with Teamshares, a tech-enabled acquiror of SMEs, in June 2026 at $746 million pro forma enterprise value.

Quantifiable outcome

• 2 successful de-SPAC transactions completed (Danimer Scientific December 2020, Navitas Semiconductor October 2021)
• +1 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• TeamsharescoreStrategic or Co-development Partner · 14 November 2025Teamshares, a tech-enabled acquiror of SMEs, entered into definitive business combination agreement with Live Oak Acquisition Corp V (LOKV). The transaction values the combined company at $746 million pro forma enterprise value with up to $333 million in gross proceeds including $126 million PIPE.
• Navitas SemiconductorcoreStrategic or Co-development PartnerNavitas Semiconductor, industry leader in Gallium Nitride (GaN) Power ICs, completed business combination with Live Oak Acquisition Corp II (LOKB) in October 2021 at $1.04 billion enterprise value.
• Danimer ScientificcoreStrategic or Co-development PartnerDanimer Scientific, pioneer in creating fully biodegradable and compostable bioplastics, became public through merger with Live Oak Acquisition Corp in December 2020 at $890 million equity value.
• Crestview PartnersminorStrategic or Co-development PartnerLive Oak Merchant Partners partnered with Crestview Partners for Live Oak Crestview Climate Acquisition Corp (LOCC). Crestview manages private equity funds with approximately $10 billion of aggregate capital commitments and has in-depth knowledge of climate and sustainability sectors.
• Hawksbill GroupminorStrategic or Co-development PartnerLive Oak Merchant Partners partnered with Hawksbill Group, a Washington D.C. based C-suite consultancy firm focused on global manufacturing and international operations, for Live Oak Mobility Acquisition Corp (LOKM).

Scale indicators8 records

Recent moves15 records

Expansion highlights4 records

Direct peers

• The Gores Group: Alec Gores' serial SPAC sponsor that has launched multiple blank-check companies (Gores Holdings IV, V, VI, etc.). Closely comparable to Live Oak as a repeat SPAC issuer pursuing business combinations with mid-market private companies.
• Churchill Capital Corp: Michael Klein's serial SPAC sponsor that issued multiple blank-check vehicles (CCIV, CCIV U, etc.) targeting large-cap business combinations. Directly comparable to Live Oak as a multi-SPAC sponsor with institutional capital markets expertise and a track record of de-SPAC transactions.
• Pershing Square Tontine Holdings: Bill Ackman's SPAC vehicle launched in 2020 targeting large-cap private businesses. Comparable as a high-profile institutional SPAC sponsor with significant founder share allocation and capital markets execution capability.
• Spartan Acquisition Corp: Serial SPAC sponsor led by Geoff Meyerson and Ivanhoe Chu that issued multiple vehicles targeting energy, industrials, and technology businesses. Comparable as a repeat SPAC issuer with a similar single-target structure per vehicle.
• Ares Acquisition Corp: Ares Management-backed SPAC vehicle targeting business combinations across financial services and adjacent sectors. Comparable as an institutional sponsor SPAC leveraging broader asset management relationships to source targets and anchor PIPEs.
• Khosla Ventures Acquisition Co. Vinod Khosla's SPAC vehicle targeting technology and sustainability businesses. Comparable as a venture-style sponsor translating VC sourcing networks into a public SPAC format with similar founder-share economics.
• Social Capital Hedosophia Holdings: Chamath Palihapitiya's SPAC platform that launched multiple vehicles (IPOA, IPOB, IPOC, IPOD, IPOE, IPOF) targeting high-growth technology businesses. Comparable as a serial SPAC sponsor using founder shares and PIPEs to take private companies public.
• CF Acquisition Corp. V: Cantor Fitzgerald-affiliated SPAC (Howard Lutnick) that launched multiple blank-check vehicles targeting financial services and technology businesses. Comparable as a serial SPAC sponsor with established capital markets relationships and similar founder economics.
• Mudrick Capital Acquisition Corporation: Jason Mudrick's SPAC vehicle that completed a de-SPAC with Hyzon Motors. Comparable as a sponsor-led SPAC with similar founder economics and a PIPE-driven de-SPAC process; reflects a peer sponsor that also struggled with post-merger performance.

Emerging players

• Saratoga Partners / Saratoga Investment Corp. Specialty finance and SPAC-adjacent capital provider (Saratoga Investment Corp. publicly listed). Tangentially comparable as a publicly traded specialty finance entity with similar capital markets expertise, though operating model differs from a pure SPAC sponsor.

Market position

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Live Oak Acquisition