Teamshares Inc (LOKV) Form 424B3 — Sep 23, 2026
Teamshares Inc. closed a $222.75 million offering of Series A Preferred Stock on September 23, 2026, selling 225,000 non-voting, non-convertible preferred shares at $990 each to purchasers who are affiliates of a beneficial owner of more than 10% of its common stock. The preferred carries a $1,000 liquidation preference and cumulative dividends of 16% per annum in cash or 18% paid in kind, stepping down to 14.5%/17.5% only if the company meets EBITDA, leverage and fixed-charge coverage tests. The company may raise up to $75 million more on the same terms and must extend any more favorable terms to existing purchasers.
Key figures
- Gross Proceeds
- 222750000
- Offering Price
- $990 per preferred share
- Shares Offered
- 225000
- Call schedule
- not redeemable 2 years except make-whole; then 102%/101%/100%
- Common close price
- 8.24
- Stepped down rates
- 14.5% cash / 17.5% PIK upon EBITDA, leverage and fixed-charge tests
- Warrant close price
- 1.19
- Dividend rate pik pct
- 18
- Dividend rate cash pct
- 16
- Warrant exercise price
- 11.5
- Additional series a capacity
- 75000000
- Liquidation preference per share
- 1000
- Minimum unrestricted cash covenant
- 150000000
AI analysis
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