LiveOne Updates On PodcastOne's Planned Spin-Out; Strengthens Balance Sheet; Increases Special Dividend From 12% To ~19%; Repays $3M Of PodcastOne's Convertible Debt
Portfolio Pulse from Benzinga Newsdesk
LiveOne announces updates on PodcastOne's planned spin-out, including strengthening its balance sheet, increasing the special dividend from 12% to ~19%, and repaying $3M of PodcastOne's convertible debt. The S-1 Registration Statement has been declared effective by the SEC, and LiveOne will own ~74% of PodcastOne's outstanding shares post spin-out.
June 14, 2023 | 12:54 pm
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POSITIVE IMPACT
LiveOne's updates on PodcastOne's planned spin-out, including increasing the special dividend and repaying convertible debt, may positively impact LVO's stock price in the short term.
The updates on PodcastOne's planned spin-out, including strengthening the balance sheet, increasing the special dividend, and repaying convertible debt, are positive developments for LiveOne. These actions may attract more investors and increase demand for LVO shares, leading to a potential short-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100