LiveOne Inc. (Nasdaq: LVO) announced the completion of a $27.775 million senior secured convertible notes financing, with an initial drawdown of $16.775 million on May 19, 2025. This financing was led by funds advised by JGB Management, Inc., and other investors. The convertible notes can be converted into shares of LiveOne's common stock at a conversion price of $2.10 per share. LiveOne has the potential to draw an additional $11 million subject to the satisfaction of certain closing conditions. The proceeds from this financing were used to pay off a $7 million loan from East West Bank and to extinguish $4 million in short-term payables, while $5 million of short-term payables were converted into long-term debt. The company plans to use the funds to support strategic growth initiatives, including expanding B2B partnerships and pursuing M&A opportunities. Details of the financing transaction will be fully described in LiveOne's Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.
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