Liveone (nasdaq: lvo) closes $16.775m debt financing, convertible at $2.10 per share, led by funds advised by jgb management, inc. and other investors

Potential additional funding of up to $11m raised subscription price by $1/month (arpu increased from $3 to $5 since jan. 1, 2025) *financial moves* paid off $7m east west bank loan extinguished $4m short-term payables extended $5m of short-term payable to long-term debt *planned initiatives* grow/close up to 75 b2b partnerships convert additional tesla subscribers pursue m&a opportunities expand ai and data mining to monetize 60m database grow current 1.5m subscribers and ad-supported users los angeles, may 22, 2025 (globe newswire) -- liveone (nasdaq: lvo), an award-winning, creator-first, music, entertainment, and technology platform, today announced that it has closed a $27.775 million senior secured convertible notes financing, drawing down $16.775 million on may 19, 2025. liveone has the potential to draw an additional $11 million subject to the satisfaction of certain closing conditions, including conditions related to liveone's financial performance over the next 15 months.
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